Banque Pictet & Cie SA Makes New $466,000 Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

Banque Pictet & Cie SA acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,927 shares of the company's stock, valued at approximately $466,000.

Other large investors have also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after buying an additional 121 shares in the last quarter. True Wealth Design LLC boosted its stake in Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after buying an additional 55 shares in the last quarter. Harbour Investments Inc. boosted its stake in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after buying an additional 99 shares in the last quarter. Parallel Advisors LLC boosted its stake in Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after buying an additional 164 shares in the last quarter. Finally, AlphaQuest LLC boosted its stake in Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after buying an additional 291 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Royal Bank Of Canada reduced their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Morgan Stanley reduced their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus cut their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wall Street Zen raised Inspire Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, KeyCorp cut their price target on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock traded down $0.10 during midday trading on Monday, reaching $130.17. The company had a trading volume of 767,421 shares, compared to its average volume of 557,431. The stock has a fifty day moving average price of $139.08 and a 200 day moving average price of $161.29. The firm has a market cap of $3.84 billion, a PE ratio of 59.98, a P/E/G ratio of 1.99 and a beta of 1.25. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The firm's quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the sale, the director directly owned 24,046 shares in the company, valued at approximately $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

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.