JPMorgan Chase & Co. Lowers Holdings in Inspire Medical Systems, Inc. $INSP

JPMorgan Chase & Co. decreased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 78.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 80,374 shares of the company’s stock after selling 301,067 shares during the period. JPMorgan Chase & Co.’s holdings in Inspire Medical Systems were worth $5,964,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in Inspire Medical Systems during the 3rd quarter valued at about $32,000. Larson Financial Group LLC lifted its stake in shares of Inspire Medical Systems by 21,266.7% in the third quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 638 shares in the last quarter. Pilgrim Partners Asia Pte Ltd bought a new position in shares of Inspire Medical Systems in the third quarter worth approximately $49,000. Daiwa Securities Group Inc. grew its holdings in shares of Inspire Medical Systems by 38.7% during the second 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 last quarter. Finally, Aster Capital Management DIFC Ltd bought a new stake in shares of Inspire Medical Systems during the third quarter valued at approximately $72,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Jefferies Financial Group decreased their price objective on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Stifel Nicolaus reduced their target price on Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Morgan Stanley set a $60.00 price target on Inspire Medical Systems in a research note on Wednesday, February 18th. UBS Group set a $67.00 price target on Inspire Medical Systems in a report on Friday, February 13th. Finally, Robert W. Baird set a $74.00 price objective on Inspire Medical Systems and gave the company a “neutral” rating in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems currently has an average rating of “Hold” and a consensus price target of $104.24.

Inspire Medical Systems Trading Up 2.0%

NYSE:INSP opened at $51.43 on Wednesday. The company has a market cap of $1.48 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The company has a 50 day simple moving average of $63.76 and a two-hundred day simple moving average of $83.13. Inspire Medical Systems, Inc. has a 12 month low of $48.30 and a 12 month high of $164.02.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. The firm had revenue of $269.08 million for the quarter, compared to analysts’ expectations 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 in the prior year, the firm earned $1.15 EPS. Research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.