Swiss National Bank grew its position in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 1.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 63,500 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Swiss National Bank’s holdings in Inspire Medical Systems were worth $20,615,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in INSP. Altshuler Shaham Ltd bought a new position in Inspire Medical Systems in the 4th quarter valued at $29,000. Parkside Financial Bank & Trust purchased a new stake in Inspire Medical Systems during the first quarter worth about $37,000. Meeder Asset Management Inc. boosted its stake in Inspire Medical Systems by 7,850.0% in the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock valued at $40,000 after acquiring an additional 157 shares during the last quarter. Parallel Advisors LLC boosted its stake in Inspire Medical Systems by 145.1% in the second quarter. Parallel Advisors LLC now owns 201 shares of the company’s stock valued at $65,000 after acquiring an additional 119 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV bought a new position in shares of Inspire Medical Systems during the 2nd quarter valued at approximately $79,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on the company. Lake Street Capital increased their price objective on Inspire Medical Systems from $305.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. SVB Leerink initiated coverage on Inspire Medical Systems in a research report on Monday, October 16th. They set a “market perform” rating and a $159.00 target price on the stock. JPMorgan Chase & Co. reduced their target price on Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating for the company in a report on Tuesday, October 17th. Wells Fargo & Company lowered their price target on shares of Inspire Medical Systems from $330.00 to $245.00 and set an “overweight” rating on the stock in a report on Wednesday, November 8th. Finally, Mizuho decreased their target price on shares of Inspire Medical Systems from $300.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average price target of $283.92.
Inspire Medical Systems Stock Performance
INSP stock opened at $140.25 on Monday. The firm has a market cap of $4.14 billion, a P/E ratio of -124.12 and a beta of 1.48. The firm’s fifty day moving average is $169.93 and its 200 day moving average is $243.72. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last released its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.53) by $0.24. The firm had revenue of $153.30 million for the quarter, compared to the consensus estimate of $154.49 million. Inspire Medical Systems had a negative return on equity of 6.32% and a negative net margin of 5.75%. The company’s quarterly revenue was up 40.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.60) earnings per share. As a group, analysts forecast that Inspire Medical Systems, Inc. will post -1.48 EPS for the current year.
Inspire Medical Systems 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.
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