Marex Group plc Takes Position in Inspire Medical Systems, Inc. $INSP

Marex Group plc purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 4,172 shares of the company’s stock, valued at approximately $541,000.

Other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its position in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company’s stock worth $39,000 after acquiring an additional 234 shares during the period. Banque Transatlantique SA acquired a new position in shares of Inspire Medical Systems in the 1st quarter valued at $46,000. Daiwa Securities Group Inc. lifted its stake in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after purchasing an additional 130 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings 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 worth $71,000 after purchasing an additional 97 shares during the period. Finally, Farther Finance Advisors LLC increased its position in shares of Inspire Medical Systems by 14.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock worth $78,000 after purchasing an additional 77 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $130.52 on Monday. Inspire Medical Systems, Inc. has a fifty-two week low of $70.77 and a fifty-two week high of $216.01. The company has a 50 day moving average price of $96.44 and a 200 day moving average price of $104.23. The stock has a market capitalization of $3.79 billion, a P/E ratio of 88.79, a price-to-earnings-growth ratio of 15.06 and a beta of 0.69.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The company had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. During the same period in the prior year, the business earned $0.60 EPS. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. On average, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Royal Bank Of Canada decreased their target price on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 4th. Oppenheimer upgraded shares of Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 price objective on the stock in a report on Monday, December 8th. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Wolfe Research upgraded shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price for the company in a report on Tuesday, November 25th. Finally, Evercore ISI decreased their price target on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 7th. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $132.65.

Insider Activity

In related news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the transaction, the director directly owned 26,046 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

About Inspire Medical Systems

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.