Bayforest Capital Ltd Acquires 5,277 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bayforest Capital Ltd increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2,465.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,491 shares of the company's stock after purchasing an additional 5,277 shares during the quarter. Bayforest Capital Ltd's holdings in Inspire Medical Systems were worth $875,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INSP. Dragoneer Investment Group LLC bought a new position in Inspire Medical Systems in the fourth quarter valued at approximately $161,486,000. Invesco Ltd. boosted its stake in Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after acquiring an additional 99,030 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Inspire Medical Systems by 12.9% in the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock valued at $105,173,000 after acquiring an additional 64,703 shares during the last quarter. Geode Capital Management LLC raised its holdings in Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after purchasing an additional 2,687 shares during the period. Finally, TimesSquare Capital Management LLC raised its holdings in Inspire Medical Systems by 9.8% in the first quarter. TimesSquare Capital Management LLC now owns 476,217 shares of the company's stock worth $75,852,000 after purchasing an additional 42,411 shares during the period. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on INSP shares. Wall Street Zen lowered shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. JPMorgan Chase & Co. cut their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird increased their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Finally, KeyCorp cut their target price on shares of Inspire Medical Systems from $216.00 to $197.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average target price of $208.55.

Inspire Medical Systems Stock Up 1.3%

Shares of NYSE:INSP traded up $1.61 during midday trading on Friday, reaching $126.15. 907,460 shares of the company were exchanged, compared to its average volume of 545,615. Inspire Medical Systems, Inc. has a fifty-two week low of $123.25 and a fifty-two week high of $225.00. The stock has a fifty day simple moving average of $132.12 and a two-hundred day simple moving average of $155.22. The firm has a market cap of $3.72 billion, a PE ratio of 58.13, a P/E/G ratio of 2.01 and a beta of 1.25.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued 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. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. During the same period last year, the business posted ($0.34) earnings per share. The firm's quarterly revenue was up 22.7% on a year-over-year basis. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.