EFG Asset Management North America Corp. Has $2.05 Million Stock Holdings in Inspire Medical Systems, Inc. $INSP

EFG Asset Management North America Corp. boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 157.1% in the third quarter, Holdings Channel reports. The firm owned 27,634 shares of the company’s stock after purchasing an additional 16,887 shares during the quarter. EFG Asset Management North America Corp.’s holdings in Inspire Medical Systems were worth $2,049,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of INSP. Dragoneer Investment Group LLC lifted its position in shares of Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after buying an additional 1,056,808 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of Inspire Medical Systems by 59.9% during the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock valued at $89,957,000 after acquiring an additional 259,716 shares during the period. Man Group plc grew its holdings in shares of Inspire Medical Systems by 192.9% in the 2nd quarter. Man Group plc now owns 380,298 shares of the company’s stock worth $49,351,000 after purchasing an additional 250,456 shares during the last quarter. Norges Bank acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter worth about $31,066,000. Finally, Braidwell LP increased its position in shares of Inspire Medical Systems by 72.7% during the 2nd quarter. Braidwell LP now owns 522,410 shares of the company’s stock worth $67,793,000 after purchasing an additional 220,000 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the sale, the director owned 26,046 shares in the company, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on INSP shares. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 22nd. Morgan Stanley restated an “equal weight” rating and set a $130.00 price target (up from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday, December 2nd. Piper Sandler raised their price target on Inspire Medical Systems from $135.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, December 8th. Evercore ISI reiterated an “outperform” rating and issued a $125.00 price objective on shares of Inspire Medical Systems in a research report on Thursday, January 22nd. Finally, Stifel Nicolaus set a $110.00 target price on Inspire Medical Systems and gave the stock a “buy” rating in a report on Monday, November 24th. Eight analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Hold” and an average price target of $133.47.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $81.72 on Wednesday. The business’s fifty day moving average price is $105.96 and its two-hundred day moving average price is $95.87. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 55.59, a PEG ratio of 8.28 and a beta of 0.72. Inspire Medical Systems, Inc. has a 52 week low of $70.77 and a 52 week high of $203.12.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The company had revenue of $224.50 million during the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.