Bellevue Group AG Has $46.76 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Bellevue Group AG lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% in the first quarter, Holdings Channel reports. The institutional investor owned 217,694 shares of the company’s stock after acquiring an additional 2,094 shares during the period. Bellevue Group AG’s holdings in Inspire Medical Systems were worth $46,758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in shares of Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after buying an additional 156,893 shares in the last quarter. BOKF NA increased its stake in Inspire Medical Systems by 149.0% during the 1st quarter. BOKF NA now owns 12,260 shares of the company’s stock worth $2,570,000 after acquiring an additional 7,337 shares during the period. Hood River Capital Management LLC raised its holdings in Inspire Medical Systems by 21.0% in the 1st quarter. Hood River Capital Management LLC now owns 189,237 shares of the company’s stock valued at $40,646,000 after acquiring an additional 32,796 shares in the last quarter. Brown Capital Management LLC bought a new stake in shares of Inspire Medical Systems during the 1st quarter valued at $16,839,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Inspire Medical Systems by 85.0% during the 1st quarter. Lazard Asset Management LLC now owns 63,196 shares of the company’s stock worth $13,573,000 after purchasing an additional 29,039 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 6.9 %

Inspire Medical Systems stock traded down $9.26 during trading hours on Friday, hitting $125.79. The stock had a trading volume of 956,555 shares, compared to its average volume of 425,876. The business’s 50 day simple moving average is $148.29 and its 200-day simple moving average is $185.01. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $293.63. The stock has a market cap of $3.74 billion, a price-to-earnings ratio of -228.71 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The company had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. The firm’s revenue was up 28.2% compared to the same quarter last year. Research analysts anticipate that Inspire Medical Systems, Inc. will post 0.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. Bank of America cut their price objective on shares of 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. Truist Financial cut their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective on the stock. Stifel Nicolaus cut their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Piper Sandler raised their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average price target 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.