State Board of Administration of Florida Retirement System Buys 295 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

State Board of Administration of Florida Retirement System raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 3.0% during the 2nd quarter, Holdings Channel reports. The fund owned 10,040 shares of the company’s stock after acquiring an additional 295 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Inspire Medical Systems were worth $1,940,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Eaton Vance Management bought a new position in shares of Inspire Medical Systems during the first quarter worth approximately $116,000. Captrust Financial Advisors boosted its position in shares of Inspire Medical Systems by 693.6% during the 1st quarter. Captrust Financial Advisors now owns 619 shares of the company’s stock worth $128,000 after acquiring an additional 541 shares in the last quarter. Point72 Hong Kong Ltd boosted its position in shares of Inspire Medical Systems by 51.5% during the 1st quarter. Point72 Hong Kong Ltd now owns 756 shares of the company’s stock worth $156,000 after acquiring an additional 257 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Inspire Medical Systems by 11.8% during the 2nd quarter. NEXT Financial Group Inc now owns 769 shares of the company’s stock worth $149,000 after acquiring an additional 81 shares in the last quarter. Finally, Marshall Wace North America L.P. acquired a new stake in shares of Inspire Medical Systems during the 1st quarter worth approximately $45,000. 90.73% of the stock is currently owned by institutional investors.

In related news, Director Georgia Melenikiotou sold 566 shares of Inspire Medical Systems stock in a transaction on Friday, August 20th. The shares were sold at an average price of $212.22, for a total transaction of $120,116.52. Following the completion of the transaction, the director now owns 566 shares of the company’s stock, valued at $120,116.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.70% of the stock is owned by company insiders.

Shares of NYSE:INSP opened at $247.06 on Friday. The firm has a market cap of $6.74 billion, a PE ratio of -141.18 and a beta of 1.66. The firm’s fifty day moving average is $212.68 and its 200-day moving average is $203.33. The company has a debt-to-equity ratio of 0.10, a quick ratio of 9.70 and a current ratio of 10.25. Inspire Medical Systems, Inc. has a 52 week low of $115.00 and a 52 week high of $264.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 3rd. The company reported ($0.48) EPS for the quarter, topping analysts’ consensus estimates of ($0.61) by $0.13. Inspire Medical Systems had a negative net margin of 26.93% and a negative return on equity of 20.93%. The company had revenue of $52.96 million for the quarter, compared to analyst estimates of $44.90 million. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post -2.23 EPS for the current year.

INSP has been the topic of several analyst reports. Piper Sandler increased their price target on shares of Inspire Medical Systems from $215.00 to $238.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 4th. TheStreet upgraded shares of Inspire Medical Systems from a “d” rating to a “c-” rating in a research report on Monday, August 16th. Zacks Investment Research lowered shares of Inspire Medical Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, July 20th. Finally, SVB Leerink raised their target price on shares of Inspire Medical Systems from $265.00 to $300.00 and gave the company an “outperform” rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $208.25.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.

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

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