BNP Paribas Financial Markets raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 69.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,991 shares of the company's stock after purchasing an additional 3,280 shares during the period. BNP Paribas Financial Markets' holdings in Inspire Medical Systems were worth $1,481,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also added to or reduced their stakes in the company. TimesSquare Capital Management LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Marshall Wace LLP boosted its stake in Inspire Medical Systems by 1,775.3% in the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock valued at $51,375,000 after acquiring an additional 262,353 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Inspire Medical Systems in the fourth quarter worth $47,604,000. Riverbridge Partners LLC acquired a new position in shares of Inspire Medical Systems during the fourth quarter worth $26,342,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Inspire Medical Systems by 98.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 232,333 shares of the company's stock valued at $43,069,000 after purchasing an additional 115,024 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.
Insiders Place Their Bets
In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the company's 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 sale, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 4.10% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several research analysts recently weighed in on the company. Piper Sandler dropped their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. JPMorgan Chase & Co. dropped their price target on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $211.91.
Check Out Our Latest Research Report on Inspire Medical Systems
Inspire Medical Systems Price Performance
NYSE:INSP traded down $2.71 during midday trading on Friday, hitting $143.24. The company's stock had a trading volume of 283,011 shares, compared to its average volume of 557,328. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $225.00. The firm has a market cap of $4.22 billion, a P/E ratio of 82.80, a P/E/G ratio of 2.86 and a beta of 1.39. The firm's 50 day moving average is $153.92 and its 200-day moving average is $175.26.
Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The firm had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. During the same quarter in the prior year, the business earned ($0.34) earnings per share. The business's quarterly revenue was up 22.7% compared to the same quarter last year. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.
About Inspire Medical Systems
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Free Report)
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.
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