ING Groep NV Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

ING Groep NV purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 7,000 shares of the company's stock, valued at approximately $1,477,000.

Other hedge funds also recently made changes to their positions in the company. Russell Investments Group Ltd. grew its position in shares of Inspire Medical Systems by 98.9% in the 1st quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company's stock valued at $6,859,000 after acquiring an additional 15,877 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock valued at $98,754,000 after acquiring an additional 156,893 shares during the last quarter. Tidal Investments LLC acquired a new position in shares of Inspire Medical Systems during the first quarter worth $1,151,000. AQR Capital Management LLC grew its stake in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock worth $31,028,000 after purchasing an additional 140,090 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its holdings in Inspire Medical Systems by 27.1% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company's stock valued at $8,699,000 after purchasing an additional 8,625 shares during the period. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Up 1.5 %

Shares of INSP traded up $2.58 during trading hours on Monday, hitting $175.28. The company had a trading volume of 414,770 shares, compared to its average volume of 600,763. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock's 50 day moving average price is $202.07 and its 200 day moving average price is $177.17. The firm has a market cap of $5.25 billion, a P/E ratio of 160.28 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business had revenue of $203.20 million for the quarter, compared to analysts' expectations of $197.59 million. During the same period in the previous year, the firm earned ($0.29) EPS. The business's quarterly revenue was up 32.6% on a year-over-year basis. On average, research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSP. KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Piper Sandler reaffirmed an "overweight" rating and set a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Leerink Partners lifted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a report on Tuesday, September 10th. Finally, Truist Financial reiterated a "buy" rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $227.75.

About Inspire Medical Systems

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.