Zacks Investment Management Decreases Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Zacks Investment Management lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.9% in the 3rd quarter, Holdings Channel reports. The fund owned 11,228 shares of the company’s stock after selling 104 shares during the quarter. Zacks Investment Management’s holdings in Inspire Medical Systems were worth $2,370,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wasatch Advisors LP raised its holdings in shares of Inspire Medical Systems by 1.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after acquiring an additional 20,481 shares during the period. State Street Corp increased its position in Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the period. William Blair Investment Management LLC boosted its holdings in Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after purchasing an additional 13,602 shares during the last quarter. Finally, Janus Henderson Group PLC grew its stake in shares of Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock valued at $106,075,000 after buying an additional 27,374 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Trading Up 0.7 %

NYSE:INSP opened at $193.03 on Monday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a market cap of $5.79 billion, a PE ratio of 180.40 and a beta of 1.31. The stock has a fifty day moving average price of $196.36 and a 200 day moving average price of $177.71.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data 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 business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter last year, the business posted ($0.29) EPS. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. Equities analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently commented on INSP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Robert W. Baird upped their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.