Concorde Asset Management LLC Acquires New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)


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Concorde Asset Management LLC acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the first quarter, according to its most recent filing with the SEC. The fund acquired 1,098 shares of the company’s stock, valued at approximately $227,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. William Blair Investment Management LLC purchased a new stake in Inspire Medical Systems during the 4th quarter valued at about $99,327,000. Norges Bank purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $48,958,000. Credit Suisse AG lifted its holdings in Inspire Medical Systems by 49.0% in the 4th quarter. Credit Suisse AG now owns 625,573 shares of the company’s stock worth $117,664,000 after buying an additional 205,692 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Inspire Medical Systems by 5,474.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 170,923 shares of the company’s stock worth $32,149,000 after acquiring an additional 167,857 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in Inspire Medical Systems by 4.8% during the 4th quarter. BlackRock Inc. now owns 1,993,714 shares of the company’s stock valued at $374,998,000 after purchasing an additional 91,563 shares during the last quarter. Institutional investors and hedge funds own 96.30% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Piper Sandler raised their price target on Inspire Medical Systems from $210.00 to $252.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 2nd. Zacks Investment Research downgraded Inspire Medical Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, April 28th. SVB Leerink lifted their target price on Inspire Medical Systems from $225.00 to $275.00 and gave the company an “outperform” rating in a research report on Tuesday, March 2nd. Robert W. Baird reiterated a “buy” rating on shares of Inspire Medical Systems in a research report on Sunday, April 25th. Finally, Lake Street Capital lifted their target price on Inspire Medical Systems from $215.00 to $250.00 and gave the company a “buy” rating in a research report on Wednesday, February 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. Inspire Medical Systems has a consensus rating of “Buy” and a consensus price target of $171.50.

Shares of NYSE:INSP opened at $235.48 on Tuesday. The company has a market capitalization of $6.40 billion, a price-to-earnings ratio of -101.50 and a beta of 1.71. Inspire Medical Systems, Inc. has a 52 week low of $65.71 and a 52 week high of $252.25. The company has a quick ratio of 14.18, a current ratio of 14.67 and a debt-to-equity ratio of 0.11. The firm has a 50 day moving average of $216.49 and a 200 day moving average of $198.06.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, February 23rd. The company reported ($0.28) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.17. The company had revenue of $46.01 million during the quarter, compared to the consensus estimate of $39.20 million. Inspire Medical Systems had a negative net margin of 61.07% and a negative return on equity of 32.23%. Inspire Medical Systems’s revenue for the quarter was up 71.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.38) earnings per share. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post -2.37 EPS for the current year.

Inspire Medical Systems 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 Europe. It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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