Amalgamated Bank Acquires 7,769 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Amalgamated Bank increased its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 387.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,774 shares of the company’s stock after acquiring an additional 7,769 shares during the quarter. Amalgamated Bank’s holdings in Inspire Medical Systems were worth $2,063,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Van ECK Associates Corp increased its position in shares of Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after acquiring an additional 72 shares in the last quarter. Signaturefd LLC raised its stake in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after purchasing an additional 92 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Inspire Medical Systems by 1.2% during the first quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock valued at $1,820,000 after buying an additional 100 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its holdings in Inspire Medical Systems by 0.8% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INSP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Leerink Partners increased their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Morgan Stanley cut their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Finally, Truist Financial reissued a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock valued at $1,099,207 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $202.04 on Tuesday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The business has a 50-day simple moving average of $202.62 and a two-hundred day simple moving average of $179.12. The firm has a market cap of $6.06 billion, a price-to-earnings ratio of 183.76 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same period in the previous year, the business earned ($0.29) earnings per share. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Inspire Medical Systems Company 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 internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.