Geode Capital Management LLC Buys 3,128 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Geode Capital Management LLC boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 483,654 shares of the company's stock after buying an additional 3,128 shares during the period. Geode Capital Management LLC owned approximately 1.61% of Inspire Medical Systems worth $102,102,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSP. True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems in the third quarter valued at $30,000. Farther Finance Advisors LLC grew its holdings in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after buying an additional 139 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after buying an additional 151 shares during the period. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $27,000. Finally, Signaturefd LLC grew its stake in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after acquiring an additional 85 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Wells Fargo & Company upped their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Piper Sandler reiterated 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. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Stock Performance

INSP traded down $1.55 on Thursday, hitting $185.42. 649,631 shares of the company were exchanged, compared to its average volume of 586,547. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market capitalization of $5.56 billion, a PE ratio of 173.29 and a beta of 1.31. The firm has a fifty day simple moving average of $193.22 and a two-hundred day simple moving average of $179.35.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million for 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%. Inspire Medical Systems's revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.29) EPS. On average, equities analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Inspire Medical Systems Company Profile

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.