Banque Cantonale Vaudoise reduced its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 86.9% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 200 shares of the company’s stock after selling 1,321 shares during the period. Banque Cantonale Vaudoise’s holdings in Inspire Medical Systems were worth $65,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in INSP. Norges Bank bought a new position in Inspire Medical Systems during the 4th quarter valued at about $65,929,000. Envestnet Asset Management Inc. lifted its holdings in Inspire Medical Systems by 1,117.0% during the 1st quarter. Envestnet Asset Management Inc. now owns 231,421 shares of the company’s stock valued at $4,586,000 after purchasing an additional 212,406 shares during the last quarter. 1832 Asset Management L.P. bought a new position in Inspire Medical Systems during the 1st quarter valued at about $43,186,000. Renaissance Technologies LLC raised its stake in shares of Inspire Medical Systems by 417.2% in the first quarter. Renaissance Technologies LLC now owns 211,000 shares of the company’s stock worth $49,389,000 after acquiring an additional 170,200 shares during the last quarter. Finally, Summit Partners Public Asset Management LLC raised its stake in shares of Inspire Medical Systems by 114.3% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 299,090 shares of the company’s stock worth $75,335,000 after acquiring an additional 159,506 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating for the company in a research note on Tuesday, October 17th. Lake Street Capital boosted their target price on shares of Inspire Medical Systems from $305.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. UBS Group dropped their target price on shares of Inspire Medical Systems from $405.00 to $322.00 and set a “buy” rating for the company in a research note on Wednesday, September 6th. Truist Financial dropped their target price on shares of Inspire Medical Systems from $260.00 to $240.00 and set a “buy” rating for the company in a research note on Wednesday, November 8th. Finally, Mizuho lowered their price target on shares of Inspire Medical Systems from $300.00 to $215.00 and set a “buy” rating for the company in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $283.92.
Inspire Medical Systems Stock Down 2.2 %
Inspire Medical Systems stock opened at $140.25 on Monday. The stock has a market capitalization of $4.14 billion, a PE ratio of -124.12 and a beta of 1.48. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00. The company has a 50 day moving average of $169.93 and a 200-day moving average of $243.72.
Inspire Medical Systems (NYSE:INSP – Get Free Report) last released its quarterly earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.53) by $0.24. The company had revenue of $153.30 million during the quarter, compared to analysts’ expectations of $154.49 million. Inspire Medical Systems had a negative net margin of 5.75% and a negative return on equity of 6.32%. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.60) earnings per share. Equities analysts anticipate that Inspire Medical Systems, Inc. will post -1.48 EPS for the current fiscal year.
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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