Swiss National Bank reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 10.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 62,300 shares of the company’s stock after selling 7,200 shares during the period. Swiss National Bank owned approximately 0.21% of Inspire Medical Systems worth $14,583,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. Principal Financial Group Inc. lifted its holdings in shares of Inspire Medical Systems by 11.4% during the 1st quarter. Principal Financial Group Inc. now owns 117,728 shares of the company’s stock worth $27,557,000 after acquiring an additional 12,052 shares during the last quarter. Thornburg Investment Management Inc. bought a new stake in shares of Inspire Medical Systems during the 1st quarter worth $7,840,000. Tower Research Capital LLC TRC lifted its holdings in shares of Inspire Medical Systems by 2,164.0% during the 1st quarter. Tower Research Capital LLC TRC now owns 3,147 shares of the company’s stock worth $737,000 after acquiring an additional 3,008 shares during the last quarter. Integral Health Asset Management LLC lifted its holdings in shares of Inspire Medical Systems by 33.3% during the 1st quarter. Integral Health Asset Management LLC now owns 80,000 shares of the company’s stock worth $18,726,000 after acquiring an additional 20,000 shares during the last quarter. Finally, Convergence Investment Partners LLC purchased a new position in Inspire Medical Systems in the 1st quarter worth $203,000. 98.05% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director Jerry C. Griffin sold 529 shares of the business’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $305.69, for a total transaction of $161,710.01. Following the sale, the director now owns 5,084 shares of the company’s stock, valued at $1,554,127.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 5,290 shares of company stock valued at $1,633,520 over the last quarter. Corporate insiders own 4.50% of the company’s stock.
Inspire Medical Systems Trading Down 2.2 %
Inspire Medical Systems (NYSE:INSP – Get Free Report) last announced its earnings results on Tuesday, August 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.10. Inspire Medical Systems had a negative net margin of 7.81% and a negative return on equity of 8.21%. The firm had revenue of $151.09 million for the quarter, compared to analyst estimates of $136.47 million. During the same quarter in the previous year, the firm posted ($0.53) EPS. The company’s revenue for the quarter was up 65.3% compared to the same quarter last year. On average, research analysts forecast that Inspire Medical Systems, Inc. will post -1.71 EPS for the current fiscal year.
Analyst Ratings Changes
INSP has been the topic of a number of analyst reports. Truist Financial decreased their target price on shares of Inspire Medical Systems from $380.00 to $363.00 and set a “buy” rating on the stock in a research report on Wednesday, August 2nd. Piper Sandler lifted their target price on shares of Inspire Medical Systems from $340.00 to $360.00 in a research report on Tuesday, July 18th. Wells Fargo & Company lifted their target price on shares of Inspire Medical Systems from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Mizuho lifted their target price on shares of Inspire Medical Systems from $300.00 to $380.00 in a research report on Monday, July 17th. Finally, Robert W. Baird initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, July 18th. They issued an “outperform” rating and a $371.00 target price on the stock. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Inspire Medical Systems currently has an average rating of “Buy” and an average target price of $353.92.
View Our Latest Analysis on INSP
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.
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