Louisiana State Employees Retirement System Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Louisiana State Employees Retirement System raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 14,500 shares of the company’s stock after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Inspire Medical Systems were worth $2,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $1,929,000. Thrivent Financial for Lutherans raised its stake in shares of Inspire Medical Systems by 39.7% during the 3rd quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after buying an additional 31,444 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of 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 worth $56,530,000 after buying an additional 238,034 shares in the last quarter. Merit Financial Group LLC purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $313,000. Finally, Principal Financial Group Inc. raised its stake in shares of Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after buying an additional 137,483 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Up 0.1 %

Shares of Inspire Medical Systems stock opened at $187.23 on Friday. The firm has a market cap of $5.61 billion, a PE ratio of 174.98 and a beta of 1.32. The business’s fifty day moving average is $189.20 and its two-hundred day moving average is $191.36. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on INSP shares. KeyCorp reissued an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Robert W. Baird lowered their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a report on Tuesday. Wells Fargo & Company lowered their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

Insider Buying and Selling at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 4.10% of the stock is currently owned by corporate insiders.

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.