Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 483,654 shares of the company’s stock after purchasing an additional 3,128 shares during the period. Geode Capital Management LLC owned 1.61% of Inspire Medical Systems worth $102,102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp raised its position in shares of Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Point72 Asset Management L.P. increased its stake in shares of Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after buying an additional 289,075 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in 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 acquiring an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp boosted 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 during the last quarter. Finally, AQR Capital Management LLC grew its holdings 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 worth $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

INSP opened at $186.97 on Thursday. The stock has a 50-day moving average of $193.22 and a 200-day moving average of $179.35. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The company has a market cap of $5.60 billion, a PE ratio of 174.74 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating 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 company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter last year, the company posted ($0.29) earnings per share. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. On average, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INSP. Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Leerink Partners raised their price target on shares of 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. Robert W. Baird boosted 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 report on Tuesday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.