Pallas Capital Advisors LLC Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Pallas Capital Advisors LLC lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 6.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,037 shares of the company’s stock after acquiring an additional 233 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Inspire Medical Systems were worth $748,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after buying an additional 79 shares in the last quarter. Diversified Trust Co lifted its position in shares of Inspire Medical Systems by 3.8% in the fourth quarter. Diversified Trust Co now owns 4,686 shares of the company’s stock valued at $869,000 after acquiring an additional 173 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after acquiring an additional 137,483 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in shares of Inspire Medical Systems during the third quarter worth about $1,208,000. Finally, Synovus Financial Corp raised its stake in Inspire Medical Systems by 7.5% during the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company’s stock valued at $739,000 after purchasing an additional 244 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $169.71 on Wednesday. The company has a market cap of $5.09 billion, a PE ratio of 158.61 and a beta of 1.32. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock’s 50 day simple moving average is $190.78 and its two-hundred day simple moving average is $184.55.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.29) EPS. Equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have weighed in on INSP. Wells Fargo & Company upped their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Stifel Nicolaus restated a “hold” rating and set a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Piper Sandler restated an “overweight” rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $233.58.

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.