Texas Permanent School Fund Corp Increases Holdings in Inspire Medical Systems, Inc. $INSP

Texas Permanent School Fund Corp increased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 42.2% during the second quarter, HoldingsChannel.com reports. The fund owned 40,042 shares of the company’s stock after acquiring an additional 11,892 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Inspire Medical Systems were worth $5,196,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Marex Group plc purchased a new stake in Inspire Medical Systems during the second quarter worth $541,000. Public Sector Pension Investment Board raised its stake in shares of Inspire Medical Systems by 6.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 100,505 shares of the company’s stock worth $13,043,000 after buying an additional 6,445 shares during the last quarter. FORA Capital LLC acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth $220,000. State of Tennessee Department of Treasury boosted its position in shares of Inspire Medical Systems by 11.3% in the 2nd quarter. State of Tennessee Department of Treasury now owns 16,445 shares of the company’s stock worth $2,134,000 after buying an additional 1,666 shares in the last quarter. Finally, Soleus Capital Management L.P. grew its stake in Inspire Medical Systems by 179.5% in the 2nd quarter. Soleus Capital Management L.P. now owns 109,000 shares of the company’s stock valued at $14,145,000 after acquiring an additional 70,000 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

INSP stock opened at $118.34 on Thursday. The company has a 50 day moving average price of $98.86 and a two-hundred day moving average price of $104.04. The stock has a market capitalization of $3.44 billion, a P/E ratio of 80.50, a PEG ratio of 13.31 and a beta of 0.70. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.53. The business had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 earnings per share. Research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director owned 26,046 shares in the company, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on INSP shares. Evercore ISI cut their target price on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Oppenheimer upgraded Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a research report on Monday, December 8th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $85.00 target price (down previously from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. JPMorgan Chase & Co. increased their target price on Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company raised Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $101.00 to $90.00 in a report on Tuesday, November 4th. Eleven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $138.88.

Inspire Medical Systems Company 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.