State of New Jersey Common Pension Fund D Has $1.72 Million Holdings in Inspire Medical Systems, Inc. $INSP

State of New Jersey Common Pension Fund D grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 79.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,216 shares of the company’s stock after acquiring an additional 10,311 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Inspire Medical Systems were worth $1,723,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. Dragoneer Investment Group LLC grew its position in Inspire Medical Systems by 81.4% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock valued at $305,532,000 after purchasing an additional 1,056,808 shares during the period. Wasatch Advisors LP lifted its stake in shares of Inspire Medical Systems by 7.2% in the second quarter. Wasatch Advisors LP now owns 1,634,395 shares of the company’s stock valued at $212,095,000 after buying an additional 110,288 shares in the last quarter. State Street Corp grew its holdings in shares of Inspire Medical Systems by 2.3% during the second quarter. State Street Corp now owns 1,030,902 shares of the company’s stock valued at $133,780,000 after buying an additional 22,843 shares during the last quarter. Frontier Capital Management Co. LLC increased its position 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 worth $89,957,000 after acquiring an additional 259,716 shares in the last quarter. Finally, Braidwell LP raised its holdings in shares of Inspire Medical Systems by 72.7% in the 2nd quarter. Braidwell LP now owns 522,410 shares of the company’s stock worth $67,793,000 after acquiring an additional 220,000 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Evercore reiterated an “outperform” rating and set a $125.00 price target on shares of Inspire Medical Systems in a research note on Thursday, January 22nd. JPMorgan Chase & Co. raised 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, December 16th. Royal Bank Of Canada decreased their price target on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating for the company in a report on Thursday, February 12th. Piper Sandler lowered their price target on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Finally, Wells Fargo & Company set a $70.00 price objective on shares of Inspire Medical Systems and gave the stock an “equal weight” rating in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $104.82.

Inspire Medical Systems Price Performance

NYSE INSP opened at $68.12 on Friday. The business’s fifty day moving average is $80.99 and its 200-day moving average is $88.08. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.93 and a beta of 0.74. Inspire Medical Systems, Inc. has a one year low of $53.11 and a one year high of $197.75.

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

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.