State of New Jersey Common Pension Fund D Buys 10,311 Shares of Inspire Medical Systems, Inc. $INSP

State of New Jersey Common Pension Fund D grew its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 79.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 23,216 shares of the company’s stock after acquiring an additional 10,311 shares during the period. State of New Jersey Common Pension Fund D owned 0.08% of Inspire Medical Systems worth $1,723,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Inspire Medical Systems by 16.0% in the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after purchasing an additional 4,528 shares in the last quarter. Integrated Wealth Concepts LLC acquired a new position in shares of Inspire Medical Systems in the first quarter valued at approximately $524,000. Goldman Sachs Group Inc. raised its holdings in Inspire Medical Systems by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after buying an additional 18,857 shares during the last quarter. AlphaQuest LLC boosted its position in Inspire Medical Systems by 178.3% during the 2nd quarter. AlphaQuest LLC now owns 2,861 shares of the company’s stock worth $371,000 after buying an additional 1,833 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Inspire Medical Systems by 783.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,368 shares of the company’s stock worth $307,000 after acquiring an additional 2,100 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $68.12 on Friday. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 13.68, a PEG ratio of 2.93 and a beta of 0.74. Inspire Medical Systems, Inc. has a 52-week low of $53.11 and a 52-week high of $197.75. The stock’s 50 day moving average price is $80.99 and its two-hundred day moving average price is $88.08.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. Inspire Medical Systems’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.15 earnings per share. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

INSP has been the subject of several analyst reports. Morgan Stanley set a $60.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, February 18th. Mizuho cut their target price on Inspire Medical Systems from $130.00 to $85.00 and set an “outperform” rating on the stock in a report on Thursday, February 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Monday, December 29th. Stifel Nicolaus set a $95.00 price objective on Inspire Medical Systems in a research report on Thursday, February 12th. Finally, Oppenheimer cut Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. Five research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Inspire Medical Systems has a consensus rating of “Hold” and a consensus price target of $104.82.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.