Raymond James Financial Services Advisors Inc. lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 45.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,926 shares of the company’s stock after selling 1,610 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Inspire Medical Systems were worth $625,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the company. Commonwealth Equity Services LLC grew its stake in shares of Inspire Medical Systems by 0.5% in the first quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock worth $1,585,000 after purchasing an additional 36 shares during the last quarter. Metropolitan Life Insurance Co NY lifted its holdings in Inspire Medical Systems by 2.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock worth $437,000 after buying an additional 39 shares during the period. Ameritas Investment Partners Inc. grew its position in shares of Inspire Medical Systems by 1.9% in the 1st quarter. Ameritas Investment Partners Inc. now owns 2,255 shares of the company’s stock worth $528,000 after buying an additional 42 shares during the last quarter. Pathstone Family Office LLC increased its stake in shares of Inspire Medical Systems by 2.7% during the third quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock valued at $403,000 after buying an additional 59 shares during the period. Finally, Prospera Financial Services Inc increased its stake in shares of Inspire Medical Systems by 4.2% during the first quarter. Prospera Financial Services Inc now owns 2,355 shares of the company’s stock valued at $551,000 after buying an additional 95 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on INSP. 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. SVB Leerink initiated coverage on shares of Inspire Medical Systems in a research report on Monday, October 16th. They set a “market perform” rating and a $159.00 price target on the stock. Leerink Partnrs restated a “market perform” rating on shares of Inspire Medical Systems in a report on Monday, October 16th. TheStreet downgraded Inspire Medical Systems from a “c-” rating to a “d+” rating in a report on Thursday. Finally, JPMorgan Chase & Co. decreased their target price on Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating for the company in a research report on Tuesday, October 17th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $318.54.
Inspire Medical Systems Price Performance
INSP opened at $145.83 on Tuesday. The firm has a market cap of $4.28 billion, a PE ratio of -101.27 and a beta of 1.42. The stock has a 50-day moving average price of $192.90 and a 200-day moving average price of $255.74. Inspire Medical Systems, Inc. has a 1 year low of $143.81 and a 1 year high of $330.00.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last released its quarterly earnings data 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. The business had revenue of $151.09 million during the quarter, compared to analyst estimates of $136.47 million. Inspire Medical Systems had a negative net margin of 7.81% and a negative return on equity of 8.21%. Inspire Medical Systems’s revenue was up 65.3% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post -1.74 EPS for the current year.
Inspire Medical Systems Company 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.
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