State of New Jersey Common Pension Fund D Purchases New Position in Inspire Medical Systems (NYSE:INSP)

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State of New Jersey Common Pension Fund D purchased a new stake in Inspire Medical Systems (NYSE:INSP) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,200 shares of the company’s stock, valued at approximately $2,087,000. State of New Jersey Common Pension Fund D owned about 0.14% of Inspire Medical Systems at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Strs Ohio lifted its position in Inspire Medical Systems by 8.7% in the second quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $151,000 after acquiring an additional 200 shares during the last quarter. Advisory Services Network LLC raised its holdings in shares of Inspire Medical Systems by 24.6% in the second quarter. Advisory Services Network LLC now owns 1,395 shares of the company’s stock valued at $85,000 after buying an additional 275 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Inspire Medical Systems by 293.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 637 shares of the company’s stock valued at $39,000 after buying an additional 475 shares during the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Inspire Medical Systems in the first quarter valued at about $45,000. Finally, Royal Bank of Canada raised its holdings in shares of Inspire Medical Systems by 593.3% in the second quarter. Royal Bank of Canada now owns 1,040 shares of the company’s stock valued at $63,000 after buying an additional 890 shares during the last quarter. 83.05% of the stock is owned by hedge funds and other institutional investors.

NYSE INSP opened at $64.05 on Friday. The stock has a market capitalization of $1.45 billion, a P/E ratio of -42.70 and a beta of 1.22. Inspire Medical Systems has a 52-week low of $35.43 and a 52-week high of $71.71. The firm has a 50-day moving average price of $58.89 and a 200 day moving average price of $60.15. The company has a quick ratio of 20.05, a current ratio of 20.46 and a debt-to-equity ratio of 0.16.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.09. The firm had revenue of $20.86 million during the quarter, compared to analysts’ expectations of $19.15 million. Inspire Medical Systems had a negative net margin of 40.36% and a negative return on equity of 18.32%. The firm’s revenue for the quarter was up 59.8% on a year-over-year basis. During the same period in the prior year, the company posted ($0.22) earnings per share. On average, equities research analysts expect that Inspire Medical Systems will post -1.55 earnings per share for the current fiscal year.

In other Inspire Medical Systems news, insider Randy Ban sold 19,300 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $59.16, for a total transaction of $1,141,788.00. Also, CFO Richard Buchholz sold 4,000 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $66.86, for a total transaction of $267,440.00. The disclosure for this sale can be found here. Insiders have sold 191,790 shares of company stock valued at $12,433,812 over the last three months. 12.10% of the stock is currently owned by corporate insiders.

A number of brokerages have recently commented on INSP. Berenberg Bank raised shares of Inspire Medical Systems from a “sell” rating to a “hold” rating and upped their target price for the company from $46.00 to $51.00 in a report on Wednesday. Dougherty & Co set a $78.00 price target on shares of Inspire Medical Systems and gave the stock a “buy” rating in a report on Friday, September 27th. Zacks Investment Research raised shares of Inspire Medical Systems from a “hold” rating to a “strong-buy” rating and set a $69.00 price target for the company in a report on Saturday. Finally, ValuEngine cut shares of Inspire Medical Systems from a “hold” rating to a “sell” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $68.25.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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