Inspire Medical Systems, Inc. $INSP Stock Position Lessened by Intech Investment Management LLC

Intech Investment Management LLC trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 83.8% during the third quarter, Holdings Channel.com reports. The firm owned 8,501 shares of the company’s stock after selling 44,082 shares during the quarter. Intech Investment Management LLC’s holdings in Inspire Medical Systems were worth $631,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the third quarter worth about $32,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Inspire Medical Systems during the 3rd quarter valued at about $49,000. Daiwa Securities Group Inc. increased its stake in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after buying an additional 130 shares during the period. Covestor Ltd raised its position in shares of Inspire Medical Systems by 3,708.7% during the 3rd quarter. Covestor Ltd now owns 1,752 shares of the company’s stock worth $130,000 after buying an additional 1,706 shares in the last quarter. Finally, US Bancorp DE raised its position in shares of Inspire Medical Systems by 36.0% during the 3rd quarter. US Bancorp DE now owns 2,779 shares of the company’s stock worth $206,000 after buying an additional 736 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $59.53 on Wednesday. Inspire Medical Systems, Inc. has a 1 year low of $53.11 and a 1 year high of $179.18. The business’s fifty day moving average is $75.86 and its two-hundred day moving average is $86.67. The stock has a market capitalization of $1.70 billion, a P/E ratio of 11.95, a P/E/G ratio of 3.06 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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. The business had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The company’s revenue was up 12.2% compared to the same quarter last year. During the same period last year, the company posted $1.15 EPS. On average, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. Truist Financial decreased their price objective on shares of Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Stifel Nicolaus cut their target price on Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, March 5th. Wolfe Research lowered Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, February 13th. Wells Fargo & Company set a $70.00 price target on Inspire Medical Systems and gave the company an “equal weight” rating in a research report on Thursday, February 12th. Finally, Oppenheimer downgraded Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 22nd. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Hold” and a consensus price target of $104.24.

About Inspire Medical Systems

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.