Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by Synovus Financial Corp

Synovus Financial Corp raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 7.5% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,502 shares of the company’s stock after purchasing an additional 244 shares during the period. Synovus Financial Corp’s holdings in Inspire Medical Systems were worth $739,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in INSP. SouthState Corp acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter valued at approximately $27,000. True Wealth Design LLC bought a new position in Inspire Medical Systems during the 3rd quarter worth $30,000. Farther Finance Advisors LLC grew its stake in shares of 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 purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of 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 purchasing an additional 151 shares in the last quarter. Finally, Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 1.0 %

Shares of Inspire Medical Systems stock opened at $190.71 on Wednesday. The stock has a 50-day moving average price of $193.62 and a 200 day moving average price of $179.30. The company has a market cap of $5.72 billion, a P/E ratio of 178.23 and a beta of 1.31. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same period in the prior year, the business earned ($0.29) EPS. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on INSP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Robert W. Baird raised their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Company 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.