Assenagon Asset Management S.A. Invests $24.44 Million in Inspire Medical Systems, Inc. $INSP

Assenagon Asset Management S.A. bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 264,999 shares of the company’s stock, valued at approximately $24,441,000. Assenagon Asset Management S.A. owned approximately 0.91% of Inspire Medical Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of INSP. Texas Permanent School Fund Corp grew its holdings in Inspire Medical Systems by 42.2% during the second quarter. Texas Permanent School Fund Corp now owns 40,042 shares of the company’s stock valued at $5,196,000 after purchasing an additional 11,892 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of Inspire Medical Systems by 553.1% in the third quarter. Y Intercept Hong Kong Ltd now owns 99,049 shares of the company’s stock valued at $7,349,000 after buying an additional 83,883 shares during the period. CW Advisors LLC raised its stake in shares of Inspire Medical Systems by 45.3% in the second quarter. CW Advisors LLC now owns 49,960 shares of the company’s stock valued at $6,484,000 after buying an additional 15,576 shares during the period. Illinois Municipal Retirement Fund lifted its position in shares of Inspire Medical Systems by 262.0% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock valued at $1,886,000 after buying an additional 18,400 shares during the last quarter. Finally, Capital Fund Management S.A. grew its stake in shares of Inspire Medical Systems by 44.1% during the 2nd quarter. Capital Fund Management S.A. now owns 68,663 shares of the company’s stock worth $8,910,000 after acquiring an additional 21,021 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Down 1.2%

Shares of NYSE INSP opened at $51.46 on Thursday. The company has a market cap of $1.48 billion, a P/E ratio of 10.33, a P/E/G ratio of 2.56 and a beta of 0.74. Inspire Medical Systems, Inc. has a 52 week low of $50.50 and a 52 week high of $167.92. The business has a 50-day simple moving average of $67.23 and a two-hundred day simple moving average of $83.98.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The firm had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. During the same period in the prior year, the business posted $1.15 earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INSP. Piper Sandler lowered their price objective on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Robert W. Baird set a $74.00 target price on shares of Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Thursday, February 12th. JPMorgan Chase & Co. lifted their target price on shares of Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Truist Financial lowered their price target on shares of Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Finally, UBS Group set a $67.00 price objective on shares of Inspire Medical Systems in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.24.

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.