China Universal Asset Management Co. Ltd. acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,574 shares of the company's stock, valued at approximately $292,000.
Several other institutional investors and hedge funds have also modified their holdings of the company. Wasatch Advisors LP lifted its holdings in shares of Inspire Medical Systems by 1.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock worth $279,318,000 after acquiring an additional 20,481 shares during the period. State Street Corp raised its stake in Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after purchasing an additional 459,990 shares during the period. Janus Henderson Group PLC boosted its holdings in shares of Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after purchasing an additional 27,374 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Inspire Medical Systems by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock valued at $102,102,000 after buying an additional 3,128 shares during the period. Finally, Point72 Asset Management L.P. increased its holdings in shares of Inspire Medical Systems by 954.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after buying an additional 289,075 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.
Analyst Ratings Changes
A number of research analysts recently weighed in on INSP shares. Robert W. Baird lifted their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday, November 5th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Stifel Nicolaus reduced their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, KeyCorp reissued an "overweight" rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $231.45.
Get Our Latest Report on INSP
Inspire Medical Systems Stock Performance
Shares of INSP stock traded down $10.86 on Thursday, hitting $181.14. The stock had a trading volume of 464,567 shares, compared to its average volume of 590,982. The stock's 50 day moving average is $190.19 and its 200-day moving average is $189.74. The firm has a market capitalization of $5.43 billion, a price-to-earnings ratio of 169.29 and a beta of 1.32. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.
Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company's revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm earned ($0.29) earnings per share. Equities analysts expect that Inspire Medical Systems, Inc. will post 1.35 earnings per share for the current year.
Inspire Medical Systems Profile
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Free Report)
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) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.
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