Inspire Medical Systems, Inc. $INSP Stock Position Increased by Banque Pictet & Cie SA

Banque Pictet & Cie SA increased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 797.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,474 shares of the company’s stock after buying an additional 21,747 shares during the quarter. Banque Pictet & Cie SA owned about 0.08% of Inspire Medical Systems worth $2,257,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of INSP. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at about $32,000. Larson Financial Group LLC grew its stake in shares of Inspire Medical Systems by 21,266.7% in the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after purchasing an additional 638 shares during the last quarter. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $49,000. Daiwa Securities Group Inc. raised its holdings in shares of 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 in the last quarter. Finally, Aster Capital Management DIFC Ltd acquired a new stake in Inspire Medical Systems during the third quarter valued at approximately $72,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 2.4%

Shares of Inspire Medical Systems stock opened at $54.93 on Friday. The business has a 50 day moving average of $62.40 and a 200 day moving average of $82.73. Inspire Medical Systems, Inc. has a 52 week low of $48.30 and a 52 week high of $163.35. The company has a market cap of $1.58 billion, a PE ratio of 11.03, a P/E/G ratio of 2.63 and a beta of 0.86.

Inspire Medical Systems (NYSE:INSP) last released 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 net margin of 15.95% and a return on equity of 10.96%. The business had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. During the same quarter in the previous year, the business posted $1.15 earnings per share. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. Morgan Stanley set a $60.00 price objective on Inspire Medical Systems in a research report on Wednesday, February 18th. Zacks Research upgraded Inspire Medical Systems from a “hold” rating to a “strong-buy” rating in a report on Monday, March 23rd. Evercore reaffirmed an “outperform” rating on shares of Inspire Medical Systems in a research report on Friday, February 27th. Finally, Stifel Nicolaus reduced their target price on Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $104.24.

Inspire Medical Systems 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.