Parallel Advisors LLC Increases Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Parallel Advisors LLC raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 356.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 210 shares of the company’s stock after purchasing an additional 164 shares during the period. Parallel Advisors LLC’s holdings in Inspire Medical Systems were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Dragoneer Investment Group LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter valued at approximately $161,486,000. TimesSquare Capital Management LLC acquired a new position in Inspire Medical Systems during the fourth quarter worth $80,419,000. Marshall Wace LLP raised its holdings in Inspire Medical Systems by 1,775.3% during the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock worth $51,375,000 after purchasing an additional 262,353 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Inspire Medical Systems during the fourth quarter worth $47,604,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Inspire Medical Systems by 869.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company’s stock valued at $38,959,000 after acquiring an additional 188,492 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. dropped their target price on 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. Truist Financial dropped their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Robert W. Baird upped their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Royal Bank of Canada decreased their target price on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Wells Fargo & Company decreased their target price on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $211.91.

Inspire Medical Systems Stock Up 0.4%

Shares of Inspire Medical Systems stock opened at $136.50 on Tuesday. The stock’s fifty day moving average is $148.64 and its 200-day moving average is $171.28. The firm has a market capitalization of $4.03 billion, a PE ratio of 78.90, a price-to-earnings-growth ratio of 2.86 and a beta of 1.28. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $225.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts expect that Inspire Medical Systems, Inc. will post 2.16 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.