Verition Fund Management LLC Takes $757,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Verition Fund Management LLC purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,585 shares of the company's stock, valued at approximately $757,000.

A number of other hedge funds have also recently bought and sold shares of INSP. CWM LLC grew its stake in shares of Inspire Medical Systems by 101.6% in the second quarter. CWM LLC now owns 1,246 shares of the company's stock valued at $167,000 after buying an additional 628 shares in the last quarter. SG Americas Securities LLC grew its position in shares of Inspire Medical Systems by 114.2% in the 2nd quarter. SG Americas Securities LLC now owns 6,228 shares of the company's stock valued at $833,000 after acquiring an additional 3,321 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Inspire Medical Systems by 118.5% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 3,079 shares of the company's stock worth $412,000 after purchasing an additional 1,670 shares during the last quarter. Neo Ivy Capital Management bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $2,850,000. Finally, Pallas Capital Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at about $404,000. 94.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Inspire Medical Systems Trading Up 0.0 %

Shares of NYSE:INSP traded up $0.07 on Tuesday, reaching $189.59. 387,716 shares of the company's stock were exchanged, compared to its average volume of 588,548. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a fifty day moving average of $195.93 and a 200-day moving average of $177.95. The company has a market capitalization of $5.68 billion, a price-to-earnings ratio of 177.03 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts' consensus estimates 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 return on equity of 5.30% and a net margin of 4.37%. The company's revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the company earned ($0.29) EPS. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal 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.