Azzad Asset Management Inc. ADV Acquires 4,160 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Azzad Asset Management Inc. ADV increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 61.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,956 shares of the company’s stock after purchasing an additional 4,160 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Inspire Medical Systems were worth $1,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at $54,000. RiverPark Advisors LLC increased its position in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after acquiring an additional 605 shares during the last quarter. CWM LLC increased its position in Inspire Medical Systems by 101.6% during the second quarter. CWM LLC now owns 1,246 shares of the company’s stock valued at $167,000 after acquiring an additional 628 shares during the last quarter. Fifth Third Bancorp purchased a new stake in Inspire Medical Systems during the second quarter valued at $172,000. Finally, Great Lakes Advisors LLC purchased a new stake in Inspire Medical Systems during the fourth quarter valued at $201,000. 94.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on INSP shares. Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Truist Financial reduced their price target on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research report on Tuesday, July 16th. Morgan Stanley reduced their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. KeyCorp reduced their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird reduced their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $219.79.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $179.62 on Friday. The business’s 50 day moving average price is $156.55 and its 200-day moving average price is $180.40. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market cap of $5.34 billion, a price-to-earnings ratio of -326.58 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the business posted ($0.41) earnings per share. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 0.15 earnings per share for the current year.

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.