EFG Asset Management North America Corp. Has $2.05 Million Position in Inspire Medical Systems, Inc. $INSP

EFG Asset Management North America Corp. raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 157.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,634 shares of the company’s stock after buying an additional 16,887 shares during the quarter. EFG Asset Management North America Corp. owned 0.09% of Inspire Medical Systems worth $2,049,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new position in shares of Inspire Medical Systems in the third quarter worth $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Inspire Medical Systems in the third quarter valued at about $49,000. Daiwa Securities Group Inc. increased its position in Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 14.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock worth $78,000 after purchasing an additional 77 shares in the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Inspire Medical Systems by 3,708.7% during the 3rd quarter. Covestor Ltd now owns 1,752 shares of the company’s stock valued at $130,000 after buying an additional 1,706 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. Evercore ISI reissued an “outperform” rating and set a $125.00 target price on shares of Inspire Medical Systems in a research report on Thursday, January 22nd. Wolfe Research upgraded Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Tuesday, November 25th. Finally, Royal Bank Of Canada downgraded Inspire Medical Systems from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $175.00 to $90.00 in a research note on Tuesday. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $133.47.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the transaction, the director owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.30% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $81.72 on Wednesday. The stock has a market capitalization of $2.37 billion, a PE ratio of 55.59, a P/E/G ratio of 8.28 and a beta of 0.72. The stock has a 50-day simple moving average of $105.96 and a 200 day simple moving average of $95.87. Inspire Medical Systems, Inc. has a twelve month low of $70.77 and a twelve month high of $203.12.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The company had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. During the same period in the previous year, the company earned $0.60 earnings per share. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.