Swiss National Bank grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,500 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Swiss National Bank owned about 0.22% of Inspire Medical Systems worth $20,615,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Altshuler Shaham Ltd bought a new position in shares of Inspire Medical Systems during the 4th quarter worth about $29,000. Parkside Financial Bank & Trust acquired a new position in shares of Inspire Medical Systems in the 1st quarter worth approximately $37,000. Meeder Asset Management Inc. lifted its holdings in shares of Inspire Medical Systems by 7,850.0% during 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 period. Parallel Advisors LLC boosted its stake in shares of Inspire Medical Systems by 145.1% in the 2nd quarter. Parallel Advisors LLC now owns 201 shares of the company’s stock valued at $65,000 after purchasing an additional 119 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $79,000. 94.91% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts have recently issued reports on INSP shares. JPMorgan Chase & Co. cut their target price on shares of Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Leerink Partnrs restated a “market perform” rating on shares of Inspire Medical Systems in a report on Monday, October 16th. Wells Fargo & Company cut their price target on Inspire Medical Systems from $330.00 to $245.00 and set an “overweight” rating for the company in a report on Wednesday, November 8th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $350.00 to $250.00 and set a “buy” rating on the stock in a report on Tuesday, November 7th. Finally, Lake Street Capital boosted their target price on shares of Inspire Medical Systems from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.92.
Inspire Medical Systems Stock Down 2.2 %
INSP stock opened at $140.25 on Monday. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00. The company has a market cap of $4.14 billion, a P/E ratio of -124.12 and a beta of 1.48. The business’s fifty day moving average is $169.93 and its 200-day moving average is $243.72.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last released its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.24. The firm had revenue of $153.30 million for the quarter, compared to analyst estimates 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 prior year, the firm posted ($0.60) earnings per share. Research analysts anticipate that Inspire Medical Systems, Inc. will post -1.48 earnings per share 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.
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