M&G PLC Raises Holdings in Inspire Medical Systems, Inc. $INSP

M&G PLC increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 173.9% in the 3rd quarter, HoldingsChannel reports. The firm owned 144,960 shares of the company’s stock after buying an additional 92,036 shares during the quarter. M&G PLC’s holdings in Inspire Medical Systems were worth $10,727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Inspire Medical Systems by 16.0% during the first quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after buying an additional 4,528 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new stake in shares of Inspire Medical Systems during the first quarter valued at $524,000. Goldman Sachs Group Inc. increased its position in Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock worth $8,190,000 after purchasing an additional 18,857 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in Inspire Medical Systems by 29.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,360 shares of the company’s stock valued at $306,000 after purchasing an additional 538 shares during the last quarter. Finally, New York State Teachers Retirement System raised its stake in Inspire Medical Systems by 0.5% in the 2nd quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on INSP. Mizuho decreased their price target on shares of Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Wells Fargo & Company set a $70.00 target price on shares of Inspire Medical Systems and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research downgraded Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday. Jefferies Financial Group reduced their price target on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Finally, Evercore reaffirmed an “outperform” rating and issued a $125.00 price objective on shares of Inspire Medical Systems in a research report on Thursday, January 22nd. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $108.94.

Inspire Medical Systems Stock Up 0.2%

Shares of INSP opened at $59.78 on Tuesday. Inspire Medical Systems, Inc. has a fifty-two week low of $53.11 and a fifty-two week high of $197.75. The company’s fifty day moving average is $91.19 and its two-hundred day moving average is $89.97. The firm has a market cap of $1.74 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 2.98 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same period last year, the company posted $1.15 EPS. The business’s quarterly revenue was up 12.2% on a year-over-year basis. As a group, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the transaction, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.30% of the stock is currently owned by company insiders.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.