Frontier Capital Management Co. LLC Has $89.96 Million Stock Holdings in Inspire Medical Systems, Inc. $INSP

Frontier Capital Management Co. LLC increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 59.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 693,203 shares of the company’s stock after purchasing an additional 259,716 shares during the period. Inspire Medical Systems makes up about 0.8% of Frontier Capital Management Co. LLC’s holdings, making the stock its 19th biggest position. Frontier Capital Management Co. LLC owned 2.34% of Inspire Medical Systems worth $89,957,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Farther Finance Advisors LLC lifted its stake in Inspire Medical Systems by 14.6% in the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after buying an additional 77 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares during the period. New York State Teachers Retirement System lifted its position in shares of Inspire Medical Systems by 0.5% during the 2nd quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after acquiring an additional 100 shares during the period. PNC Financial Services Group Inc. boosted its stake in Inspire Medical Systems by 4.7% during the first quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company’s stock worth $385,000 after acquiring an additional 109 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Inspire Medical Systems by 1.3% in the second quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after purchasing an additional 125 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This trade represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Stock Down 0.4%

Shares of Inspire Medical Systems stock opened at $140.03 on Thursday. Inspire Medical Systems, Inc. has a 52 week low of $70.77 and a 52 week high of $216.01. The business has a 50 day moving average price of $94.11 and a 200-day moving average price of $104.61. The company has a market cap of $4.07 billion, a PE ratio of 95.26, a price-to-earnings-growth ratio of 16.19 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.53. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business had revenue of $224.50 million during the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. Inspire Medical Systems’s revenue was up 10.5% compared to the same quarter last year. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on INSP shares. Robert W. Baird upped their price objective on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. JPMorgan Chase & Co. dropped their price target on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 4th. Jefferies Financial Group reissued a “hold” rating and issued a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. Leerink Partners lowered their target price on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating on the stock in a research report on Friday, August 15th. Finally, Wells Fargo & Company upgraded Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and cut their target price for the stock from $101.00 to $90.00 in a report on Tuesday, November 4th. Ten investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $132.65.

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.