Bellevue Group AG Acquires 2,094 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bellevue Group AG raised its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 217,694 shares of the company’s stock after purchasing an additional 2,094 shares during the quarter. Bellevue Group AG owned 0.73% of Inspire Medical Systems worth $46,758,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INSP. Baillie Gifford & Co. grew its stake in Inspire Medical Systems by 19.3% in the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after purchasing an additional 237,734 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after buying an additional 453,294 shares during the period. Wasatch Advisors LP raised its holdings in shares of Inspire Medical Systems by 0.5% in the first quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock valued at $236,885,000 after acquiring an additional 5,522 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Inspire Medical Systems by 105.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after acquiring an additional 380,362 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Inspire Medical Systems by 49.5% during the 1st quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock worth $127,924,000 after acquiring an additional 197,097 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 6.9 %

Shares of NYSE INSP traded down $9.26 during midday trading on Friday, reaching $125.79. The company had a trading volume of 956,555 shares, compared to its average volume of 425,876. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $293.63. The business’s 50-day simple moving average is $148.29 and its 200 day simple moving average is $185.01. The stock has a market cap of $3.74 billion, a P/E ratio of -228.71 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The company had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm’s quarterly revenue was up 28.2% on a year-over-year basis. During the same quarter last year, the business posted ($0.53) EPS. Analysts predict that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on INSP. Morgan Stanley lowered their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Royal Bank of Canada assumed coverage on Inspire Medical Systems in a report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target on the stock. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Truist Financial cut their target price on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Finally, Piper Sandler boosted their target price on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $235.29.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.