Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by State Street Corp

State Street Corp grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 78.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,049,784 shares of the company's stock after purchasing an additional 459,990 shares during the period. State Street Corp owned approximately 3.50% of Inspire Medical Systems worth $221,557,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SYM FINANCIAL Corp acquired a new position in Inspire Medical Systems in the 3rd quarter valued at $273,000. Quarry LP increased its stake in shares of Inspire Medical Systems by 30.9% during the third quarter. Quarry LP now owns 449 shares of the company's stock worth $95,000 after acquiring an additional 106 shares during the period. Point72 Asset Management L.P. raised its holdings in Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after purchasing an additional 289,075 shares in the last quarter. Janus Henderson Group PLC lifted its position in Inspire Medical Systems by 5.8% in the third 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 period. Finally, Holocene Advisors LP purchased a new stake in Inspire Medical Systems in the 3rd quarter valued at approximately $1,345,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on INSP shares. Piper Sandler reissued an "overweight" rating and set a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 10th. Truist Financial reaffirmed a "buy" rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reiterated a "hold" rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Price Performance

INSP traded up $2.06 during trading on Thursday, hitting $194.83. The company had a trading volume of 191,192 shares, compared to its average volume of 586,179. The company has a market cap of $5.84 billion, a PE ratio of 180.25 and a beta of 1.31. The business has a 50-day moving average of $195.14 and a 200-day moving average of $178.27. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $203.20 million for the quarter, compared to analysts' expectations of $197.59 million. During the same period last year, the business posted ($0.29) earnings per share. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. Research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current 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.