Oppenheimer Asset Management Inc. Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Oppenheimer Asset Management Inc. boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 16.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,206 shares of the company's stock after purchasing an additional 2,179 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.05% of Inspire Medical Systems worth $2,422,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC lifted its holdings in shares of Inspire Medical Systems by 2,028.4% in the first quarter. Exchange Traded Concepts LLC now owns 10,706 shares of the company's stock valued at $1,705,000 after purchasing an additional 10,203 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in shares of Inspire Medical Systems during the 1st quarter worth approximately $1,748,000. Fifth Third Bancorp lifted its stake in Inspire Medical Systems by 66.2% in the 1st quarter. Fifth Third Bancorp now owns 2,698 shares of the company's stock valued at $430,000 after buying an additional 1,075 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Inspire Medical Systems by 19.0% in the 1st quarter. Handelsbanken Fonder AB now owns 10,000 shares of the company's stock valued at $1,593,000 after buying an additional 1,600 shares in the last quarter. Finally, SG Americas Securities LLC grew its holdings in Inspire Medical Systems by 14.7% during the 1st quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock valued at $646,000 after buying an additional 521 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on INSP. Stifel Nicolaus cut their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. KeyCorp dropped their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Wells Fargo & Company reduced their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Price Performance

NYSE:INSP traded up $2.73 during trading hours on Friday, reaching $132.44. 526,760 shares of the company were exchanged, compared to its average volume of 551,169. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of 61.03, a PEG ratio of 2.02 and a beta of 1.28. The stock has a 50 day simple moving average of $144.26 and a 200 day simple moving average of $165.99. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released 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 return on equity of 10.00% and a net margin of 7.92%. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. During the same period in the prior year, the firm posted ($0.34) EPS. The business's revenue for the quarter was up 22.7% on a year-over-year basis. On average, analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal 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.