Leonteq Securities AG raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 187.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 22,812 shares of the company’s stock after purchasing an additional 14,873 shares during the quarter. Leonteq Securities AG owned about 0.08% of Inspire Medical Systems worth $1,177,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP acquired a new stake in shares of Inspire Medical Systems during the 4th quarter worth $203,929,000. Wasatch Advisors LP boosted its holdings in Inspire Medical Systems by 7.2% in the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock valued at $212,095,000 after acquiring an additional 110,288 shares during the last quarter. Morgan Stanley boosted its holdings in Inspire Medical Systems by 179.5% in the fourth quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock valued at $116,188,000 after acquiring an additional 809,121 shares during the last quarter. Deerfield Management Company L.P. grew its position in Inspire Medical Systems by 648.4% during the third quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after acquiring an additional 907,694 shares during the period. Finally, State Street Corp grew its position in Inspire Medical Systems by 2.3% during the second quarter. State Street Corp now owns 1,030,902 shares of the company’s stock valued at $133,780,000 after acquiring an additional 22,843 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.
Inspire Medical Systems Price Performance
NYSE:INSP opened at $46.95 on Friday. The business’s 50-day moving average is $44.57 and its two-hundred day moving average is $62.43. The firm has a market capitalization of $1.35 billion, a PE ratio of 10.46, a price-to-earnings-growth ratio of 4.75 and a beta of 0.71. Inspire Medical Systems, Inc. has a 12 month low of $38.91 and a 12 month high of $147.03.
Analysts Set New Price Targets
A number of equities analysts have recently commented on the company. Bank of America downgraded Inspire Medical Systems from a “neutral” rating to an “underperform” rating and set a $39.00 price objective on the stock. in a report on Friday, May 22nd. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $70.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday, May 5th. Robert W. Baird dropped their target price on shares of Inspire Medical Systems from $63.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Evercore downgraded shares of Inspire Medical Systems from an “outperform” rating to an “in-line” rating and set a $40.00 target price for the company. in a research report on Tuesday, June 23rd. Finally, Oppenheimer restated a “market perform” rating on shares of Inspire Medical Systems in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $81.05.
Get Our Latest Stock Analysis on Inspire Medical Systems
Inspire Medical Systems 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.
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