Invesco Ltd. Has $147.02 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Invesco Ltd. raised its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 14.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 793,080 shares of the company’s stock after buying an additional 99,030 shares during the period. Invesco Ltd.’s holdings in Inspire Medical Systems were worth $147,021,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after buying an additional 38,219 shares during the period. Geode Capital Management LLC increased its position in Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after acquiring an additional 2,687 shares during the period. TimesSquare Capital Management LLC bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at $80,419,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock worth $61,709,000 after purchasing an additional 58,447 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Inspire Medical Systems by 5.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 296,207 shares of the company’s stock worth $54,911,000 after purchasing an additional 15,042 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSP has been the subject of a number of recent research reports. Piper Sandler decreased their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Robert W. Baird lowered their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Truist Financial lowered their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Wells Fargo & Company reduced their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $226.70.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Stock Up 1.7 %

NYSE:INSP opened at $147.10 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a fifty day moving average of $169.67 and a 200-day moving average of $185.27. The firm has a market capitalization of $4.38 billion, a P/E ratio of 85.03, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

About Inspire Medical Systems

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.