Mitsubishi UFJ Trust & Banking Corp Has $21.67 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Mitsubishi UFJ Trust & Banking Corp lessened its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,880 shares of the company’s stock after selling 9,080 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.33% of Inspire Medical Systems worth $21,668,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Baillie Gifford & Co. boosted its position in shares of Inspire Medical Systems by 19.3% in the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after buying an additional 237,734 shares during the period. Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after buying an additional 453,294 shares during the period. Wasatch Advisors LP boosted its position in shares of Inspire Medical Systems by 0.5% in the first quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after buying an additional 5,522 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Inspire Medical Systems by 105.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after buying an additional 380,362 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Inspire Medical Systems by 49.5% in the first quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock worth $127,924,000 after buying an additional 197,097 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 4.3 %

Shares of NYSE:INSP traded up $5.92 on Friday, reaching $143.74. The company had a trading volume of 359,567 shares, compared to its average volume of 692,945. The stock has a 50-day moving average price of $150.48 and a 200 day moving average price of $186.54. The stock has a market capitalization of $4.27 billion, a P/E ratio of -261.35 and a beta of 1.31. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $323.09.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to analyst estimates of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.53) earnings per share. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on INSP shares. Piper Sandler lifted their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Morgan Stanley reduced their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Bank of America reduced their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Royal Bank of Canada started coverage on Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective for the company. Finally, Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $235.29.

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.