Mutual of America Capital Management LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Mutual of America Capital Management LLC purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 4,485 shares of the company’s stock, valued at approximately $947,000.

Several other institutional investors have also recently added to or reduced their stakes in INSP. CIBC Asset Management Inc acquired a new stake in Inspire Medical Systems during the third quarter worth about $285,000. ING Groep NV bought a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $1,477,000. KBC Group NV raised its position in shares of Inspire Medical Systems by 16.9% during the 3rd quarter. KBC Group NV now owns 870 shares of the company’s stock worth $184,000 after purchasing an additional 126 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Inspire Medical Systems by 0.8% in the 3rd quarter. Victory Capital Management Inc. now owns 82,849 shares of the company’s stock worth $17,485,000 after purchasing an additional 643 shares during the last quarter. Finally, Aigen Investment Management LP acquired a new position in Inspire Medical Systems during the 3rd quarter valued at approximately $649,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 5.2 %

Shares of NYSE INSP opened at $189.05 on Wednesday. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The company has a 50-day moving average of $199.01 and a two-hundred day moving average of $175.73. The company has a market cap of $5.67 billion, a PE ratio of 176.68 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems 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 of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wells Fargo & Company boosted their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Leerink Partners boosted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Robert W. Baird raised their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

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.