Rhenman & Partners Asset Management AB Has $4.53 Million Position in Inspire Medical Systems, Inc. $INSP

Rhenman & Partners Asset Management AB grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 100.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 61,000 shares of the company’s stock after buying an additional 30,500 shares during the quarter. Rhenman & Partners Asset Management AB’s holdings in Inspire Medical Systems were worth $4,526,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Dragoneer Investment Group LLC grew its holdings in Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after acquiring an additional 1,056,808 shares during the last quarter. William Blair Investment Management LLC lifted its position in shares of Inspire Medical Systems by 68.7% during the third quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after purchasing an additional 528,404 shares in the last quarter. Frontier Capital Management Co. LLC grew its stake in shares of Inspire Medical Systems by 59.9% during the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock valued at $89,957,000 after purchasing an additional 259,716 shares during the last quarter. Man Group plc grew its stake in shares of Inspire Medical Systems by 192.9% during the second quarter. Man Group plc now owns 380,298 shares of the company’s stock valued at $49,351,000 after purchasing an additional 250,456 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Inspire Medical Systems in the second quarter valued at approximately $31,066,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Up 0.9%

Shares of INSP stock opened at $63.01 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $53.11 and a 12-month high of $189.49. The firm has a fifty day moving average of $77.16 and a 200-day moving average of $87.18. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 3.09 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data 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 the consensus estimate of $264.02 million. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The firm’s revenue was up 12.2% compared to the same quarter last year. During the same quarter last year, the business posted $1.15 EPS. Research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on INSP. Morgan Stanley set a $60.00 price objective on Inspire Medical Systems in a research report on Wednesday, February 18th. Royal Bank Of Canada cut their price target on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a research note on Thursday, February 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. JPMorgan Chase & Co. boosted their price objective on Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a report on Tuesday, December 16th. Finally, UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a research note on Friday, February 13th. Five analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $104.24.

About Inspire Medical Systems

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.