Daiwa Securities Group Inc. Invests $53,000 in Inspire Medical Systems, Inc. (NYSE:INSP)

Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 396 shares of the company’s stock, valued at approximately $53,000.

Several other institutional investors have also added to or reduced their stakes in INSP. SouthState Corp purchased a new position in shares of Inspire Medical Systems during the second quarter valued at approximately $27,000. Principal Securities Inc. purchased a new position in Inspire Medical Systems during the 4th quarter valued at $54,000. RiverPark Advisors LLC raised its holdings in Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Inspire Medical Systems in the 4th quarter worth about $201,000. Finally, Van ECK Associates Corp boosted its stake in shares of Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock worth $1,099,207 over the last 90 days. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp decreased their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Stifel Nicolaus lowered their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Finally, Robert W. Baird cut their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.85.

Inspire Medical Systems Stock Up 0.7 %

NYSE INSP opened at $208.17 on Thursday. The business has a 50-day moving average price of $173.47 and a 200-day moving average price of $181.64. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of -378.49 and a beta of 1.33. 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) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million during the quarter, compared to analyst estimates of $189.08 million. During the same period last year, the firm posted ($0.41) EPS. The company’s revenue was up 29.6% on a year-over-year basis. Research analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Inspire Medical Systems Company Profile

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.