Merit Financial Group LLC Acquires Shares of 1,686 Inspire Medical Systems, Inc. (NYSE:INSP)

Merit Financial Group LLC acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,686 shares of the company’s stock, valued at approximately $313,000.

Several other institutional investors have also recently made changes to their positions in INSP. Wasatch Advisors LP lifted its holdings in Inspire Medical Systems by 1.6% during the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after acquiring an additional 20,481 shares during the period. State Street Corp increased its position in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of Inspire Medical Systems by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after purchasing an additional 27,374 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Inspire Medical Systems by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock worth $102,102,000 after buying an additional 3,128 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after buying an additional 289,075 shares during the period. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on INSP shares. Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp reissued an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $231.45.

Inspire Medical Systems Stock Up 0.6 %

INSP stock opened at $188.77 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market capitalization of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32. The stock has a 50-day simple moving average of $189.32 and a two-hundred day simple moving average of $186.43.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate 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 company had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.35 EPS for the current fiscal year.

Inspire Medical Systems 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.