Intech Investment Management LLC Acquires 2,328 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Intech Investment Management LLC grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 23.3% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,326 shares of the company’s stock after acquiring an additional 2,328 shares during the period. Intech Investment Management LLC’s holdings in Inspire Medical Systems were worth $1,650,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. XTX Topco Ltd bought a new position in Inspire Medical Systems during the second quarter valued at about $1,338,000. Seven Eight Capital LP bought a new position in shares of Inspire Medical Systems in the 2nd quarter valued at approximately $3,098,000. Blair William & Co. IL lifted its holdings in Inspire Medical Systems by 13.1% in the 2nd quarter. Blair William & Co. IL now owns 7,826 shares of the company’s stock worth $1,047,000 after purchasing an additional 905 shares during the last quarter. Amalgamated Bank boosted its position in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after purchasing an additional 79 shares during the period. Finally, Sofinnova Investments Inc. grew its holdings in Inspire Medical Systems by 23.5% during the second quarter. Sofinnova Investments Inc. now owns 10,000 shares of the company’s stock valued at $1,338,000 after purchasing an additional 1,901 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other 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 completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction on 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 directly owns 3,056 shares in the company, valued at $576,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on INSP shares. Bank of America cut their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Leerink Partners raised their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird cut 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. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Finally, Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average price target of $214.85.

Inspire Medical Systems Trading Up 1.8 %

INSP stock opened at $216.71 on Tuesday. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The business’s 50 day moving average is $178.04 and its 200-day moving average is $182.08. The firm has a market cap of $6.44 billion, a P/E ratio of -394.02 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm had revenue of $195.89 million during the quarter, compared to analyst estimates of $189.08 million. During the same period in the prior year, the company posted ($0.41) earnings per share. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 0.75 EPS for the current 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.