California Public Employees Retirement System Raises Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

California Public Employees Retirement System raised its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 15.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 52,605 shares of the company’s stock after purchasing an additional 7,053 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Inspire Medical Systems worth $17,078,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in INSP. Commonwealth Equity Services LLC lifted its holdings in shares of Inspire Medical Systems by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock valued at $1,585,000 after buying an additional 36 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in shares of Inspire Medical Systems by 2.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock valued at $437,000 after buying an additional 39 shares during the period. Ameritas Investment Partners Inc. lifted its holdings in shares of Inspire Medical Systems by 1.9% during the 1st quarter. Ameritas Investment Partners Inc. now owns 2,255 shares of the company’s stock valued at $528,000 after buying an additional 42 shares during the period. Pathstone Family Office LLC raised its holdings in Inspire Medical Systems by 2.7% in the 3rd quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock worth $403,000 after purchasing an additional 59 shares during the period. Finally, Prospera Financial Services Inc raised its holdings in Inspire Medical Systems by 4.2% in the 1st quarter. Prospera Financial Services Inc now owns 2,355 shares of the company’s stock worth $551,000 after purchasing an additional 95 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of recent research reports. SVB Leerink initiated coverage on Inspire Medical Systems in a report on Monday, October 16th. They issued a “market perform” rating and a $159.00 target price on the stock. JPMorgan Chase & Co. decreased their target price on Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Leerink Partnrs reaffirmed a “market perform” rating on shares of Inspire Medical Systems in a report on Monday, October 16th. Mizuho decreased their target price on Inspire Medical Systems from $300.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Finally, Truist Financial decreased their target price on Inspire Medical Systems from $260.00 to $240.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $283.92.

Inspire Medical Systems Stock Down 2.2 %

Shares of Inspire Medical Systems stock opened at $140.25 on Monday. The firm has a market cap of $4.14 billion, a price-to-earnings ratio of -124.12 and a beta of 1.48. The business has a 50-day moving average price of $169.93 and a 200-day moving average price of $243.72. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.24. The firm had revenue of $153.30 million during the quarter, compared to analyst estimates of $154.49 million. Inspire Medical Systems had a negative return on equity of 6.32% and a negative net margin of 5.75%. The business’s quarterly revenue was up 40.4% compared to the same quarter last year. During the same quarter last year, the business posted ($0.60) earnings per share. On average, equities analysts expect 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.