M&T Bank Corp Has $681,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

M&T Bank Corp lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 53.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,228 shares of the company’s stock after purchasing an additional 1,120 shares during the period. M&T Bank Corp’s holdings in Inspire Medical Systems were worth $681,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp raised its stake in Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after acquiring an additional 72 shares during the period. Amalgamated Bank increased its holdings in shares of Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after purchasing an additional 79 shares during the last quarter. Signaturefd LLC raised its position in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after purchasing an additional 85 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Inspire Medical Systems by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after buying an additional 92 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Inspire Medical Systems by 30.9% during the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock worth $95,000 after buying an additional 106 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wells Fargo & Company raised their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Leerink Partners upped their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

Inspire Medical Systems Trading Up 0.5 %

NYSE INSP opened at $188.73 on Tuesday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.31. The firm’s 50 day simple moving average is $193.93 and its 200 day simple moving average is $179.07.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter last year, the company posted ($0.29) EPS. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Inspire Medical Systems Company 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.