Swiss National Bank Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Swiss National Bank grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 58,600 shares of the company’s stock after acquiring an additional 600 shares during the period. Swiss National Bank’s holdings in Inspire Medical Systems were worth $10,863,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of INSP. State Street Corp lifted its holdings in Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after buying an additional 459,990 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Point72 Asset Management L.P. lifted its holdings in Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after buying an additional 289,075 shares during the period. Raymond James Financial Inc. bought a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $47,604,000. Finally, Riverbridge Partners LLC bought a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $26,342,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 0.3 %

INSP stock opened at $163.07 on Friday. The firm has a market cap of $4.84 billion, a PE ratio of 94.26, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The business has a 50 day moving average of $181.05 and a 200 day moving average of $191.43. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

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

Insiders Place Their Bets

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction 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 completion of the sale, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction 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 directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,225 shares of company stock valued at $4,806,530. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

INSP has been the subject of several research reports. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Robert W. Baird decreased their target price 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. Finally, Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $228.82.

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.