State of New Jersey Common Pension Fund D Boosts Stock Holdings in Inspire Medical Systems, Inc. $INSP

State of New Jersey Common Pension Fund D lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 79.9% in the 3rd quarter, according to 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 period. State of New Jersey Common Pension Fund D owned approximately 0.08% of Inspire Medical Systems worth $1,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Amalgamated Bank boosted its stake in Inspire Medical Systems by 1.3% during the 2nd quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock valued at $1,242,000 after purchasing an additional 125 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Inspire Medical Systems by 38.7% during the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after buying an additional 130 shares during the last quarter. Choreo LLC increased its holdings in Inspire Medical Systems by 9.8% in the 2nd quarter. Choreo LLC now owns 1,877 shares of the company’s stock worth $244,000 after buying an additional 168 shares in the last quarter. Teacher Retirement System of Texas raised its position in Inspire Medical Systems by 2.4% in the 2nd quarter. Teacher Retirement System of Texas now owns 8,572 shares of the company’s stock worth $1,112,000 after buying an additional 201 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in Inspire Medical Systems by 3.8% during the 2nd quarter. Northwest & Ethical Investments L.P. now owns 5,940 shares of the company’s stock valued at $771,000 after acquiring an additional 216 shares during the period. 94.91% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

INSP has been the topic of a number of recent analyst reports. Oppenheimer downgraded shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. Morgan Stanley set a $60.00 target price on shares of Inspire Medical Systems in a report on Wednesday, February 18th. Robert W. Baird set a $74.00 target price on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research note on Thursday, February 12th. Weiss Ratings reissued a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Finally, Truist Financial cut their price objective on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $104.82.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $68.12 on Friday. The company’s fifty day simple moving average is $80.99 and its 200-day simple moving average is $88.08. The stock has a market capitalization of $1.95 billion, a PE ratio of 13.68, a P/E/G ratio of 2.93 and a beta of 0.74. Inspire Medical Systems, Inc. has a 1-year low of $53.11 and a 1-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 EPS for the quarter, topping the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The firm had revenue of $269.08 million during the quarter, compared to analyst estimates of $264.02 million. During the same period in the prior year, the business posted $1.15 EPS. Inspire Medical Systems’s revenue was up 12.2% on a year-over-year basis. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current 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.