Oppenheimer Asset Management Inc. Acquires 2,242 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Oppenheimer Asset Management Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 26.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,768 shares of the company’s stock after purchasing an additional 2,242 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Inspire Medical Systems were worth $1,441,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new stake in Inspire Medical Systems during the second quarter worth approximately $27,000. Principal Securities Inc. acquired a new stake in shares of Inspire Medical Systems during the 4th quarter worth $54,000. Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems in the second quarter worth $53,000. RiverPark Advisors LLC raised its stake in Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after purchasing an additional 605 shares in the last quarter. Finally, Great Lakes Advisors LLC bought a new stake in Inspire Medical Systems during the fourth quarter worth about $201,000. 94.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

INSP has been the subject of several analyst reports. 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 report on Tuesday, September 10th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. KeyCorp reduced their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Finally, Truist Financial reduced their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $214.85.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $208.17 on Thursday. The company has a 50 day simple moving average of $173.47 and a 200 day simple moving average of $181.64. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market cap of $6.18 billion, a PE ratio of -378.49 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. During the same quarter last year, the firm earned ($0.41) earnings per share. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is currently owned by company insiders.

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.