ING Groep NV Purchases New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)

ING Groep NV acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,000 shares of the company’s stock, valued at approximately $1,477,000.

Several other hedge funds have also recently modified their holdings of INSP. SouthState Corp bought a new position in Inspire Medical Systems during the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its stake in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the period. Quarry LP increased its stake in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $53,000. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

INSP has been the subject of a number of recent research reports. Leerink Partners raised their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Stock Down 0.1 %

Inspire Medical Systems stock opened at $172.70 on Monday. The stock has a market cap of $5.18 billion, a price-to-earnings ratio of 161.40 and a beta of 1.36. The business has a 50-day simple moving average of $202.07 and a 200 day simple moving average of $177.63. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the prior year, the business earned ($0.29) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

About Inspire Medical Systems

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.