Swiss National Bank Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Swiss National Bank boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 58,600 shares of the company’s stock after purchasing an additional 600 shares during the period. Swiss National Bank owned about 0.20% of Inspire Medical Systems worth $10,863,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in INSP. KBC Group NV lifted its position in shares of Inspire Medical Systems by 16.9% during the 3rd quarter. KBC Group NV now owns 870 shares of the company’s stock valued at $184,000 after buying an additional 126 shares during the last quarter. CIBC Asset Management Inc purchased a new position in shares of Inspire Medical Systems during the 3rd quarter valued at $285,000. Mutual of America Capital Management LLC purchased a new position in shares of Inspire Medical Systems during the 3rd quarter valued at $947,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at $1,929,000. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in shares of Inspire Medical Systems by 80.3% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,244 shares of the company’s stock valued at $30,865,000 after purchasing an additional 65,147 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley decreased their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Piper Sandler decreased their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

Insider Activity at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 25,584 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock worth $4,806,530 in the last ninety days. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Trading Up 0.3 %

Shares of Inspire Medical Systems stock opened at $163.07 on Friday. The firm has a market capitalization of $4.84 billion, a PE ratio of 94.26, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The business’s 50-day moving average price is $181.05 and its 200-day moving average price is $191.43. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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.