JPMorgan Chase & Co. Sells 301,067 Shares of Inspire Medical Systems, Inc. $INSP

JPMorgan Chase & Co. cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 78.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,374 shares of the company’s stock after selling 301,067 shares during the period. JPMorgan Chase & Co. owned 0.28% of Inspire Medical Systems worth $5,964,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Xponance Inc. boosted its holdings in Inspire Medical Systems by 2.9% in the third quarter. Xponance Inc. now owns 4,177 shares of the company’s stock valued at $310,000 after acquiring an additional 116 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Choreo LLC lifted its position in shares of Inspire Medical Systems by 9.8% in the 2nd quarter. Choreo LLC now owns 1,877 shares of the company’s stock worth $244,000 after purchasing an additional 168 shares during the period. Blair William & Co. IL lifted its position in shares of Inspire Medical Systems by 5.1% in the 3rd quarter. Blair William & Co. IL now owns 4,865 shares of the company’s stock worth $361,000 after purchasing an additional 234 shares during the period. Finally, XTX Topco Ltd boosted its stake in shares of Inspire Medical Systems by 4.3% during the 3rd quarter. XTX Topco Ltd now owns 7,289 shares of the company’s stock valued at $541,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Zacks Research raised Inspire Medical Systems from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd. Weiss Ratings reissued a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Monday, December 29th. Jefferies Financial Group dropped their price target on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Piper Sandler decreased their price objective on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Finally, Royal Bank Of Canada lowered their price objective on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating for the company in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Hold” and an average target price of $104.24.

Inspire Medical Systems Stock Performance

INSP stock opened at $51.43 on Wednesday. The firm has a 50 day moving average price of $63.76 and a 200-day moving average price of $83.13. Inspire Medical Systems, Inc. has a 52-week low of $48.30 and a 52-week high of $164.02. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.47 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The company had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. During the same quarter in the prior year, the business posted $1.15 EPS. The firm’s quarterly revenue was up 12.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal 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.