Oddo BHF Asset Management Sas Takes $1.21 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Oddo BHF Asset Management Sas purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,723 shares of the company's stock, valued at approximately $1,208,000.

A number of other large investors also recently modified their holdings of the business. State Street Corp increased its position in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after purchasing an additional 459,990 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after acquiring an additional 289,075 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock worth $56,530,000 after purchasing an additional 238,034 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock valued at $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock valued at $31,028,000 after purchasing an additional 140,090 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on INSP shares. Robert W. Baird boosted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Stifel Nicolaus reiterated a "hold" rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Truist Financial reiterated a "buy" rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Stock Down 1.1 %

Shares of INSP traded down $2.17 during midday trading on Friday, reaching $187.83. 431,247 shares of the stock were exchanged, compared to its average volume of 586,183. The company has a market cap of $5.63 billion, a price-to-earnings ratio of 175.66 and a beta of 1.31. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a 50 day simple moving average of $194.30 and a 200-day simple moving average of $178.56.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data 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 firm had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.29) earnings per share. Research analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Inspire Medical Systems 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.