Merit Financial Group LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Merit Financial Group LLC bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 1,686 shares of the company's stock, valued at approximately $313,000.

Other large investors also recently modified their holdings of the company. Pallas Capital Advisors LLC boosted its holdings in Inspire Medical Systems by 6.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,037 shares of the company's stock valued at $748,000 after acquiring an additional 233 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Inspire Medical Systems by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock valued at $1,461,000 after purchasing an additional 79 shares during the last quarter. Diversified Trust Co grew its position in shares of Inspire Medical Systems by 3.8% during the 4th quarter. Diversified Trust Co now owns 4,686 shares of the company's stock worth $869,000 after buying an additional 173 shares during the period. Principal Financial Group Inc. raised its stake in shares of Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock worth $29,777,000 after buying an additional 137,483 shares during the last quarter. Finally, Oddo BHF Asset Management Sas acquired a new position in Inspire Medical Systems in the third quarter valued at approximately $1,208,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on INSP. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. KeyCorp reiterated an "overweight" rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday. Royal Bank of Canada restated an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial restated a "buy" rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $231.45.

Inspire Medical Systems Stock Up 0.6 %

Shares of NYSE:INSP traded up $1.18 during midday trading on Friday, reaching $188.77. 342,055 shares of the company were exchanged, compared to its average volume of 555,447. The firm has a market cap of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock has a fifty day simple moving average of $189.32 and a two-hundred day simple moving average of $186.81.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm 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%. The company's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.29) EPS. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.35 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.