Geode Capital Management LLC Buys 3,128 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Geode Capital Management LLC raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 483,654 shares of the company’s stock after acquiring an additional 3,128 shares during the quarter. Geode Capital Management LLC’s holdings in Inspire Medical Systems were worth $102,102,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in INSP. Wealth Enhancement Advisory Services LLC lifted its position in shares of Inspire Medical Systems by 118.5% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,079 shares of the company’s stock worth $412,000 after acquiring an additional 1,670 shares during the period. Fifth Third Bancorp acquired a new stake in Inspire Medical Systems during the second quarter worth $172,000. Gilliland Jeter Wealth Management LLC increased its holdings in Inspire Medical Systems by 0.8% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock valued at $2,075,000 after buying an additional 125 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after buying an additional 192,238 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Inspire Medical Systems by 13.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,764 shares of the company’s stock worth $905,000 after acquiring an additional 806 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Robert W. Baird upped their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

Inspire Medical Systems Stock Down 2.0 %

Shares of NYSE INSP opened at $186.97 on Thursday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm’s 50-day simple moving average is $193.22 and its 200 day simple moving average is $179.35. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 174.74 and a beta of 1.31.

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