Inspire Medical Systems, Inc. (NYSE:INSP) Position Reduced by Swiss National Bank

Swiss National Bank lowered its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 58,100 shares of the company’s stock after selling 500 shares during the period. Swiss National Bank’s holdings in Inspire Medical Systems were worth $9,254,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of INSP. Wells Fargo & Company MN increased its holdings in shares of Inspire Medical Systems by 13.3% in the fourth quarter. Wells Fargo & Company MN now owns 19,013 shares of the company’s stock valued at $3,525,000 after buying an additional 2,230 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Inspire Medical Systems by 7.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,667 shares of the company’s stock valued at $4,758,000 after buying an additional 1,752 shares in the last quarter. Bank of Montreal Can increased its holdings in shares of Inspire Medical Systems by 30.8% in the fourth quarter. Bank of Montreal Can now owns 4,522 shares of the company’s stock valued at $838,000 after buying an additional 1,064 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Inspire Medical Systems by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 12,884 shares of the company’s stock valued at $2,388,000 after buying an additional 90 shares in the last quarter. Finally, Mariner LLC increased its holdings in shares of Inspire Medical Systems by 1.6% in the fourth quarter. Mariner LLC now owns 4,837 shares of the company’s stock valued at $897,000 after buying an additional 77 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 3.7%

Inspire Medical Systems stock opened at $87.67 on Friday. Inspire Medical Systems, Inc. has a 12 month low of $73.92 and a 12 month high of $225.00. The stock has a market cap of $2.59 billion, a P/E ratio of 50.68, a P/E/G ratio of 2.64 and a beta of 1.22. The company’s fifty day simple moving average is $121.60 and its 200-day simple moving average is $148.31.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The business had revenue of $217.09 million for the quarter, compared to the consensus estimate of $214.50 million. During the same period in the prior year, the business posted $0.32 earnings per share. Inspire Medical Systems’s revenue for the quarter was up 10.8% compared to the same quarter last year. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has authorized a share buyback program on Monday, August 11th that authorizes the company to repurchase $200.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 8.6% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research analysts have issued reports on INSP shares. UBS Group set a $230.00 price target on Inspire Medical Systems and gave the company a “buy” rating in a report on Tuesday, August 5th. Morgan Stanley dropped their price target on Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating on the stock in a report on Tuesday, July 15th. Robert W. Baird lifted their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 6th. Royal Bank Of Canada lowered their price objective on shares of Inspire Medical Systems from $215.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 5th. Finally, Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $174.00 to $101.00 and set an “equal weight” rating on the stock in a research report on Tuesday, August 5th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $165.62.

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.