Meeder Asset Management Inc. Invests $165,000 in Inspire Medical Systems, Inc. (NYSE:INSP)

Meeder Asset Management Inc. acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 783 shares of the company’s stock, valued at approximately $165,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSP. Thrivent Financial for Lutherans grew its position in Inspire Medical Systems by 39.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock valued at $23,337,000 after purchasing an additional 31,444 shares during the last quarter. Mutual of America Capital Management LLC bought a new position in shares of Inspire Medical Systems in the third quarter worth approximately $947,000. CIBC Asset Management Inc purchased a new stake in shares of Inspire Medical Systems during the third quarter valued at approximately $285,000. ING Groep NV bought a new stake in shares of Inspire Medical Systems during the third quarter valued at approximately $1,477,000. Finally, KBC Group NV raised its holdings in Inspire Medical Systems by 16.9% in the 3rd quarter. KBC Group NV now owns 870 shares of the company’s stock worth $184,000 after acquiring an additional 126 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Leerink Partners lifted their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird upped their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, KeyCorp lowered their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $176.04 on Wednesday. The business’s fifty day moving average is $201.34 and its 200 day moving average is $176.63. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market capitalization of $5.28 billion, a PE ratio of 164.52 and a beta of 1.36.

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