Oppenheimer Asset Management Inc. Buys 2,179 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. lifted its holdings in shares of Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Huntington National Bank lifted its stake in Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC lifted its stake in Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 55 shares in the last quarter. Harbour Investments Inc. boosted its holdings in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after acquiring an additional 99 shares during the last quarter. Finally, Parallel Advisors LLC grew its stake in shares of Inspire Medical Systems by 356.5% in the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after acquiring an additional 164 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on INSP. Wells Fargo & Company dropped their price target on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped 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 research report on Tuesday, May 6th. Stifel Nicolaus cut their target price 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. Royal Bank Of Canada decreased their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, KeyCorp dropped their price target on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $211.91.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the transaction, the director owned 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Performance

NYSE INSP traded down $3.13 on Monday, hitting $129.28. 722,583 shares of the stock traded hands, compared to its average volume of 550,235. The business's fifty day moving average is $143.59 and its two-hundred day moving average is $164.83. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 59.58, a PEG ratio of 2.03 and a beta of 1.29.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating 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 firm had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. During the same quarter in the prior year, the firm earned ($0.34) EPS. The business's revenue for the quarter was up 22.7% compared to the same quarter last year. Analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal 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.