Atika Capital Management LLC Buys 25,700 Shares of Inspire Medical Systems, Inc. $INSP

Atika Capital Management LLC boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 187,600 shares of the company’s stock after purchasing an additional 25,700 shares during the quarter. Inspire Medical Systems comprises 1.1% of Atika Capital Management LLC’s holdings, making the stock its 28th largest holding. Atika Capital Management LLC owned 0.65% of Inspire Medical Systems worth $13,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC purchased a new stake in shares of Inspire Medical Systems during the third quarter valued at about $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $49,000. Daiwa Securities Group Inc. raised its stake in shares of Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after acquiring an additional 130 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $72,000. Finally, Covestor Ltd lifted its position in Inspire Medical Systems by 3,708.7% during the third quarter. Covestor Ltd now owns 1,752 shares of the company’s stock valued at $130,000 after acquiring an additional 1,706 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. UBS Group set a $67.00 price target on shares of Inspire Medical Systems in a report on Friday, February 13th. Wells Fargo & Company set a $70.00 price objective on Inspire Medical Systems and gave the company an “equal weight” rating in a report on Thursday, February 12th. Morgan Stanley set a $60.00 price objective on Inspire Medical Systems in a research report on Wednesday, February 18th. Evercore restated an “outperform” rating on shares of Inspire Medical Systems in a research note on Friday, February 27th. Finally, Mizuho reduced their target price on Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $104.24.

Inspire Medical Systems Trading Up 0.7%

NYSE:INSP opened at $59.88 on Thursday. Inspire Medical Systems, Inc. has a twelve month low of $53.11 and a twelve month high of $176.45. The company has a market cap of $1.71 billion, a PE ratio of 12.02, a P/E/G ratio of 2.94 and a beta of 0.74. The company’s 50 day moving average is $75.21 and its two-hundred day moving average is $86.49.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $264.02 million. During the same quarter last year, the company posted $1.15 earnings per share. The business’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

About Inspire Medical Systems

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.