Aberdeen Group plc Raises Stock Holdings in Inspire Medical Systems, Inc. $INSP

Aberdeen Group plc raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 63.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 396,340 shares of the company’s stock after acquiring an additional 153,238 shares during the period. Aberdeen Group plc owned approximately 1.36% of Inspire Medical Systems worth $29,967,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in INSP. Public Sector Pension Investment Board raised its holdings in shares of Inspire Medical Systems by 4.5% during the third quarter. Public Sector Pension Investment Board now owns 104,984 shares of the company’s stock valued at $7,790,000 after purchasing an additional 4,479 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Inspire Medical Systems by 262.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock worth $1,886,000 after purchasing an additional 18,400 shares during the period. ING Groep NV purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at $1,002,000. Tempus Wealth Planning LLC lifted its holdings in shares of Inspire Medical Systems by 36.8% during the 3rd quarter. Tempus Wealth Planning LLC now owns 3,562 shares of the company’s stock valued at $264,000 after buying an additional 959 shares during the period. Finally, AlphaQuest LLC boosted its stake in shares of Inspire Medical Systems by 18.6% in the 3rd quarter. AlphaQuest LLC now owns 3,394 shares of the company’s stock worth $252,000 after buying an additional 533 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on INSP shares. Wells Fargo & Company set a $70.00 price objective on Inspire Medical Systems and gave the company an “equal weight” rating in a research report on Thursday. Truist Financial cut their price target on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Zacks Research raised shares of Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research report on Monday, October 27th. Morgan Stanley reissued an “equal weight” rating and issued a $130.00 price objective (up previously from $105.00) on shares of Inspire Medical Systems in a report on Tuesday, December 2nd. Finally, Robert W. Baird set a $74.00 target price on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research report on Thursday. Five research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $108.94.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the sale, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Inspire Medical Systems Trading Up 0.2%

Inspire Medical Systems stock opened at $59.78 on Tuesday. Inspire Medical Systems, Inc. has a 12-month low of $53.11 and a 12-month high of $197.75. The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 12.00, a P/E/G ratio of 2.98 and a beta of 0.74. The firm has a 50 day moving average of $91.19 and a 200 day moving average of $89.97.

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

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.