M&G PLC Increases Position in Inspire Medical Systems, Inc. $INSP

M&G PLC increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 173.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 144,960 shares of the company’s stock after buying an additional 92,036 shares during the quarter. M&G PLC owned about 0.50% of Inspire Medical Systems worth $10,727,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. State of New Jersey Common Pension Fund D lifted its position in Inspire Medical Systems by 79.9% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 23,216 shares of the company’s stock worth $1,723,000 after acquiring an additional 10,311 shares during the period. Aberdeen Group plc raised its stake in shares of Inspire Medical Systems by 63.0% during the third quarter. Aberdeen Group plc now owns 396,340 shares of the company’s stock worth $29,967,000 after purchasing an additional 153,238 shares during the last quarter. Public Sector Pension Investment Board lifted its holdings in shares of Inspire Medical Systems by 4.5% during the third quarter. Public Sector Pension Investment Board now owns 104,984 shares of the company’s stock worth $7,790,000 after purchasing an additional 4,479 shares during the period. Illinois Municipal Retirement Fund grew its position in Inspire Medical Systems by 262.0% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock valued at $1,886,000 after buying an additional 18,400 shares during the last quarter. Finally, ING Groep NV acquired a new position in Inspire Medical Systems in the 3rd quarter valued at $1,002,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In related news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $127.48, for a total value of $254,960.00. Following the sale, the director directly 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 at this hyperlink. 2.30% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have recently commented on INSP. Royal Bank Of Canada reduced their target price on shares of Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating for the company in a research note on Thursday. Truist Financial reduced their price objective on shares of Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $130.00 price objective (up previously from $105.00) on shares of Inspire Medical Systems in a report on Tuesday, December 2nd. Stifel Nicolaus set a $95.00 target price on Inspire Medical Systems in a research report on Thursday. Finally, Wells Fargo & Company set a $70.00 price target on Inspire Medical Systems and gave the company an “equal weight” rating in a report on Thursday. Five research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Hold” and an average price target of $108.94.

Inspire Medical Systems Trading Up 0.2%

Shares of INSP opened at $59.78 on Tuesday. Inspire Medical Systems, Inc. has a twelve month low of $53.11 and a twelve month high of $197.75. The firm has a market capitalization of $1.74 billion, a P/E ratio of 12.00, a PEG ratio of 2.98 and a beta of 0.74. The firm’s 50-day moving average is $91.19 and its two-hundred day moving average is $89.97.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, topping the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The company’s quarterly revenue was up 12.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.15 EPS. Analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.