Hsbc Holdings PLC Purchases New Shares in Inspire Medical Systems, Inc. $INSP

Hsbc Holdings PLC acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 7,962 shares of the company’s stock, valued at approximately $1,033,000.

A number of other hedge funds have also bought and sold shares of INSP. Capital Fund Management S.A. lifted its holdings in shares of Inspire Medical Systems by 44.1% in the 2nd quarter. Capital Fund Management S.A. now owns 68,663 shares of the company’s stock worth $8,910,000 after acquiring an additional 21,021 shares during the last quarter. State Board of Administration of Florida Retirement System raised its position in Inspire Medical Systems by 1.8% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 31,667 shares of the company’s stock worth $4,109,000 after purchasing an additional 557 shares during the period. Atika Capital Management LLC lifted its stake in Inspire Medical Systems by 0.8% in the second quarter. Atika Capital Management LLC now owns 161,900 shares of the company’s stock worth $21,010,000 after purchasing an additional 1,300 shares during the last quarter. Choreo LLC boosted its position in shares of Inspire Medical Systems by 9.8% during the second quarter. Choreo LLC now owns 1,877 shares of the company’s stock valued at $244,000 after buying an additional 168 shares during the period. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of Inspire Medical Systems by 3.8% during the second quarter. Northwest & Ethical Investments L.P. now owns 5,940 shares of the company’s stock valued at $771,000 after buying an additional 216 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Down 2.3%

Shares of Inspire Medical Systems stock opened at $140.62 on Wednesday. The stock’s fifty day moving average price is $92.76 and its 200-day moving average price is $104.37. The firm has a market cap of $4.09 billion, a P/E ratio of 95.66, a P/E/G ratio of 16.59 and a beta of 0.69. Inspire Medical Systems, Inc. has a 12 month low of $70.77 and a 12 month high of $216.01.

Inspire Medical Systems (NYSE:INSP) last issued its 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. The company had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. Analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Inspire Medical Systems in a research report on Thursday, December 4th. Royal Bank Of Canada cut their price target on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, November 4th. Wolfe Research raised shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Tuesday, November 25th. Finally, Mizuho set a $110.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Ten research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.65.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.