Eagle Asset Management Inc. boosted its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 82.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 260,753 shares of the company's stock after acquiring an additional 117,819 shares during the period. Eagle Asset Management Inc. owned 0.87% of Inspire Medical Systems worth $51,269,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after buying an additional 151 shares during the period. SouthState Corp purchased a new position in shares of Inspire Medical Systems during the second quarter valued at about $27,000. Signaturefd LLC increased its position in shares of Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after buying an additional 85 shares during the period. Finally, Quarry LP increased its position in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company's stock valued at $46,000 after buying an additional 176 shares during the period. Hedge funds and other institutional investors own 94.91% of the company's stock.
Shares of Inspire Medical Systems stock opened at $188.73 on Friday. The company has a market cap of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.36. The company's 50 day moving average is $199.53 and its 200 day moving average is $175.81. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.
Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same period in the prior year, the company earned ($0.29) earnings per share. The firm's revenue was up 32.6% on a year-over-year basis. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.
Several brokerages recently issued reports on INSP. Stifel Nicolaus reiterated a "hold" rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial reissued a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners boosted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 10th. Finally, Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $233.58.
Get Our Latest Research Report on Inspire Medical Systems
In other news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by corporate insiders.
Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.
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