BNP Paribas Financial Markets Raises Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

BNP Paribas Financial Markets grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 69.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,991 shares of the company’s stock after purchasing an additional 3,280 shares during the quarter. BNP Paribas Financial Markets’ holdings in Inspire Medical Systems were worth $1,481,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Caisse DE Depot ET Placement DU Quebec purchased a new stake in shares of Inspire Medical Systems during the fourth quarter valued at $738,000. Comerica Bank boosted its stake in shares of Inspire Medical Systems by 26.6% during the fourth quarter. Comerica Bank now owns 25,159 shares of the company’s stock valued at $4,664,000 after purchasing an additional 5,285 shares during the period. Northern Trust Corp lifted its stake in Inspire Medical Systems by 40.2% in the fourth quarter. Northern Trust Corp now owns 244,249 shares of the company’s stock worth $45,279,000 after acquiring an additional 69,995 shares during the period. Nebula Research & Development LLC purchased a new stake in Inspire Medical Systems in the fourth quarter worth about $548,000. Finally, Voya Investment Management LLC lifted its stake in Inspire Medical Systems by 1.7% in the fourth quarter. Voya Investment Management LLC now owns 156,575 shares of the company’s stock worth $29,026,000 after acquiring an additional 2,639 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Shawn Mccormick sold 360 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $152.66 on Monday. The company has a market capitalization of $4.50 billion, a PE ratio of 88.24, a P/E/G ratio of 2.86 and a beta of 1.39. The company has a 50-day simple moving average of $155.46 and a two-hundred day simple moving average of $176.65. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $225.00.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The firm’s revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the company posted ($0.34) earnings per share. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on INSP shares. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada lowered their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $211.91.

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.