Northern Trust Corp Purchases New Holdings in Inspire Medical Systems (INSP)

Northern Trust Corp purchased a new position in shares of Inspire Medical Systems (NASDAQ:INSP) in the 2nd quarter, HoldingsChannel.com reports. The fund purchased 94,571 shares of the company’s stock, valued at approximately $3,373,000.

A number of other large investors have also recently added to or reduced their stakes in the stock. Orbimed Advisors LLC acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $87,161,000. Millennium Management LLC acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $26,752,000. BlackRock Inc. acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $19,624,000. FMR LLC acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $11,340,000. Finally, Federated Investors Inc. PA acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $10,949,000.

Shares of NASDAQ INSP opened at $43.64 on Monday. Inspire Medical Systems has a fifty-two week low of $22.50 and a fifty-two week high of $57.87.

Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings data on Tuesday, November 6th. The company reported ($0.22) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.35) by $0.13. The company had revenue of $13.10 million during the quarter, compared to analyst estimates of $12.86 million. Inspire Medical Systems’s revenue was up 79.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($3.42) earnings per share.

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 15,000 shares of Inspire Medical Systems stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $39.89, for a total value of $598,350.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Randy Ban sold 10,000 shares of the business’s stock in a transaction on Tuesday, November 20th. The stock was sold at an average price of $40.37, for a total value of $403,700.00. The disclosure for this sale can be found here.

Several analysts recently weighed in on INSP shares. Zacks Investment Research cut Inspire Medical Systems from a “hold” rating to a “sell” rating in a report on Wednesday, November 21st. Leerink Swann began coverage on Inspire Medical Systems in a report on Monday, October 29th. They issued an “outperform” rating and a $57.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $40.86.

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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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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Institutional Ownership by Quarter for Inspire Medical Systems (NASDAQ:INSP)

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