Inspire Medical Systems, Inc. $INSP Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. reduced its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 62.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,118 shares of the company’s stock after selling 19,776 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Inspire Medical Systems were worth $899,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC grew its position in Inspire Medical Systems by 81.4% in the second quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after buying an additional 1,056,808 shares during the last quarter. Wasatch Advisors LP grew its position in Inspire Medical Systems by 7.2% during the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock valued at $212,095,000 after purchasing an additional 110,288 shares in the last quarter. State Street Corp increased its stake in shares of Inspire Medical Systems by 2.3% in the second quarter. State Street Corp now owns 1,030,902 shares of the company’s stock worth $133,780,000 after acquiring an additional 22,843 shares during the last quarter. Frontier Capital Management Co. LLC increased its position in Inspire Medical Systems by 59.9% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock worth $89,957,000 after purchasing an additional 259,716 shares during the last quarter. Finally, Braidwell LP increased its holdings in Inspire Medical Systems by 72.7% in the second quarter. Braidwell LP now owns 522,410 shares of the company’s stock worth $67,793,000 after buying an additional 220,000 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INSP has been the topic of a number of research analyst reports. UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a research note on Friday, February 13th. Royal Bank Of Canada lowered their price target on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a research report on Thursday, February 12th. Jefferies Financial Group cut their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Finally, Robert W. Baird set a $74.00 price target on Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $104.82.

Inspire Medical Systems Stock Up 1.5%

Inspire Medical Systems stock opened at $65.81 on Wednesday. The business has a 50 day moving average price of $79.10 and a two-hundred day moving average price of $87.71. Inspire Medical Systems, Inc. has a 12 month low of $53.11 and a 12 month high of $189.49. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 3.18 and a beta of 0.74.

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