Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Xponance Inc.

Posted by Defense World Staff on Sep 28th, 2023

Xponance Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 130.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,008 shares of the company’s stock after acquiring an additional 2,270 shares during the period. Xponance Inc.’s holdings in Inspire Medical Systems were worth $1,301,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. James Investment Research Inc. purchased a new position in Inspire Medical Systems in the 1st quarter valued at about $26,000. American National Bank purchased a new stake in Inspire Medical Systems in the 1st quarter worth approximately $29,000. Altshuler Shaham Ltd acquired a new position in Inspire Medical Systems in the 4th quarter valued at $29,000. Parkside Financial Bank & Trust purchased a new position in shares of Inspire Medical Systems during the 1st quarter worth $37,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Inspire Medical Systems by 7,850.0% during the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after purchasing an additional 157 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Up 2.9 %

NYSE INSP opened at $192.75 on Thursday. Inspire Medical Systems, Inc. has a fifty-two week low of $159.62 and a fifty-two week high of $330.00. The business has a 50 day moving average price of $240.87 and a two-hundred day moving average price of $267.93. The stock has a market cap of $5.66 billion, a PE ratio of -133.85 and a beta of 1.40.

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 the consensus estimate 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 business had revenue of $151.09 million during the quarter, compared to the consensus estimate of $136.47 million. During the same period in the prior year, the firm earned ($0.53) earnings per share. The business’s quarterly revenue was up 65.3% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post -1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INSP has been the topic of several recent analyst reports. Bank of America increased their target price on Inspire Medical Systems from $310.00 to $355.00 in a research report on Tuesday, July 4th. Truist Financial dropped their price target on shares of Inspire Medical Systems from $363.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, August 24th. Robert W. Baird began coverage on shares of Inspire Medical Systems in a report on Tuesday, July 18th. They issued an “outperform” rating and a $371.00 price target on the stock. UBS Group dropped their price objective on Inspire Medical Systems from $405.00 to $322.00 and set a “buy” rating for the company in a report on Wednesday, September 6th. Finally, Wells Fargo & Company lifted their target price on Inspire Medical Systems from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Wednesday, August 2nd. Eleven research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $345.08.

Check Out Our Latest Report on Inspire Medical Systems

Insider Activity

In related news, Director Jerry C. Griffin sold 529 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $322.09, for a total value of $170,385.61. Following the completion of the transaction, the director now owns 6,968 shares of the company’s stock, valued at $2,244,323.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 2,645 shares of company stock worth $822,494 over the last ninety days. Corporate insiders own 4.50% of the company’s stock.

Inspire Medical Systems Profile

(Free Report)

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.