Merit Financial Group LLC Takes $313,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Merit Financial Group LLC bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, HoldingsChannel reports. The fund bought 1,686 shares of the company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. True Wealth Design LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its stake in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC lifted its stake in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after acquiring an additional 151 shares during the period. Signaturefd LLC boosted its holdings in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares in the last quarter. Finally, Quarry LP increased its position in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on INSP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Robert W. Baird increased their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $231.45.

Inspire Medical Systems Trading Up 0.6 %

NYSE INSP opened at $188.77 on Friday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock’s fifty day moving average price is $189.32 and its 200-day moving average price is $186.43. The stock has a market cap of $5.66 billion, a P/E ratio of 176.42 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.29) EPS. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.35 earnings per share for the current fiscal 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 internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.