Captrust Financial Advisors Purchases New Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Captrust Financial Advisors purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, HoldingsChannel.com reports. The fund purchased 2,975 shares of the company’s stock, valued at approximately $628,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in INSP. Allspring Global Investments Holdings LLC increased its holdings in shares of Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Inspire Medical Systems by 32.3% in 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. AQR Capital Management LLC increased its stake in Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after acquiring an additional 140,090 shares during the last quarter. Principal Financial Group Inc. increased its stake in Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after acquiring an additional 137,483 shares during the last quarter. Finally, Eagle Asset Management Inc. increased its stake in Inspire Medical Systems by 82.4% during the third quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock worth $51,269,000 after acquiring an additional 117,819 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $192.87 on Thursday. The company has a market capitalization of $5.78 billion, a price-to-earnings ratio of 180.25 and a beta of 1.31. The business has a 50-day moving average of $195.14 and a two-hundred 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) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.29) EPS. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. Truist Financial reissued a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Bank of America raised 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. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating 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. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.58.

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.