TimesSquare Capital Management LLC lifted its stake in shares of Inspire Medical Systems (NYSE:INSP) by 5.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 541,550 shares of the company’s stock after purchasing an additional 28,285 shares during the quarter. TimesSquare Capital Management LLC owned about 2.26% of Inspire Medical Systems worth $33,045,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in INSP. Morgan Stanley grew its holdings in Inspire Medical Systems by 3.6% in the 2nd quarter. Morgan Stanley now owns 1,441,080 shares of the company’s stock worth $87,401,000 after buying an additional 50,166 shares in the last quarter. BlackRock Inc. grew its holdings in Inspire Medical Systems by 43.5% in the 2nd quarter. BlackRock Inc. now owns 1,406,301 shares of the company’s stock worth $85,293,000 after buying an additional 426,425 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Inspire Medical Systems by 5.9% in the 2nd quarter. William Blair Investment Management LLC now owns 1,160,880 shares of the company’s stock worth $70,407,000 after buying an additional 64,785 shares in the last quarter. Invesco Ltd. grew its holdings in Inspire Medical Systems by 279.8% in the 2nd quarter. Invesco Ltd. now owns 965,710 shares of the company’s stock worth $58,570,000 after buying an additional 711,435 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in Inspire Medical Systems by 12.8% in the 2nd quarter. Vanguard Group Inc. now owns 795,694 shares of the company’s stock worth $48,258,000 after buying an additional 90,413 shares in the last quarter. Institutional investors and hedge funds own 83.37% of the company’s stock.
INSP stock traded up $0.11 on Wednesday, reaching $63.11. The company’s stock had a trading volume of 101,686 shares, compared to its average volume of 303,938. Inspire Medical Systems has a 52 week low of $35.43 and a 52 week high of $71.71. The company has a market capitalization of $1.54 billion, a P/E ratio of -42.07 and a beta of 1.22. The firm has a fifty day moving average of $58.63 and a two-hundred day moving average of $60.46. The company has a debt-to-equity ratio of 0.17, a current ratio of 13.42 and a quick ratio of 13.05.
Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.43) by $0.09. The firm had revenue of $20.86 million during the quarter, compared to analyst estimates of $19.15 million. Inspire Medical Systems had a negative return on equity of 18.67% and a negative net margin of 40.36%. The firm’s quarterly revenue was up 59.8% on a year-over-year basis. During the same period last year, the company posted ($0.22) EPS. As a group, equities analysts expect that Inspire Medical Systems will post -1.46 EPS for the current fiscal year.
A number of brokerages recently issued reports on INSP. Zacks Investment Research raised Inspire Medical Systems from a “hold” rating to a “strong-buy” rating and set a $69.00 price objective for the company in a report on Saturday. Dougherty & Co set a $78.00 price objective on Inspire Medical Systems and gave the stock a “buy” rating in a report on Friday, September 27th. ValuEngine lowered Inspire Medical Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. Finally, Berenberg Bank raised Inspire Medical Systems from a “sell” rating to a “hold” rating and increased their price objective for the stock from $46.00 to $51.00 in a report on Wednesday, November 6th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Inspire Medical Systems has an average rating of “Hold” and a consensus target price of $68.25.
In other Inspire Medical Systems news, CFO Richard Buchholz sold 4,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $66.86, for a total transaction of $267,440.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Randy Ban sold 19,300 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $59.16, for a total value of $1,141,788.00. Over the last ninety days, insiders have sold 191,790 shares of company stock valued at $12,433,812. 12.10% of the stock is currently owned by corporate insiders.
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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
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