Inspire Medical Systems, Inc. (NYSE:INSP) Holdings Lifted by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 39.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,580 shares of the company’s stock after purchasing an additional 31,444 shares during the quarter. Thrivent Financial for Lutherans owned about 0.37% of Inspire Medical Systems worth $23,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp raised its stake in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after acquiring an additional 192,238 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Inspire Medical Systems by 1.8% in the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after purchasing an additional 13,602 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after buying an additional 238,034 shares during the period. Finally, AQR Capital Management LLC increased its stake in Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the period. Institutional investors own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Leerink Partners raised their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company upped their price target 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Stock Up 0.4 %

INSP opened at $176.04 on Wednesday. The firm has a market capitalization of $5.28 billion, a P/E ratio of 164.52 and a beta of 1.36. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a fifty day moving average of $201.34 and a 200-day moving average of $176.63.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the company posted ($0.29) earnings per share. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

About Inspire Medical Systems

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.