Rhumbline Advisers Buys 304 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Rhumbline Advisers raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.9% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,861 shares of the company’s stock after acquiring an additional 304 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Inspire Medical Systems worth $4,799,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares during the period. Frontier Capital Management Co. LLC lifted its holdings in shares of Inspire Medical Systems by 105.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after purchasing an additional 380,362 shares in the last quarter. Norges Bank bought a new position in shares of Inspire Medical Systems in the 4th quarter worth $49,116,000. Baillie Gifford & Co. lifted its holdings in shares of Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after purchasing an additional 237,734 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Inspire Medical Systems by 49.5% in the 1st quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock worth $127,924,000 after purchasing an additional 197,097 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INSP. Truist Financial dropped their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Robert W. Baird reduced their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Bank of America reduced their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Finally, Morgan Stanley dropped 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. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.85.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $203.99 on Monday. The business’s 50 day simple moving average is $168.99 and its two-hundred day simple moving average is $181.09. The stock has a market capitalization of $6.08 billion, a P/E ratio of -370.89 and a beta of 1.33. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period in the previous year, the firm earned ($0.41) earnings per share. The business’s revenue was up 29.6% compared to the same quarter last year. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,692 shares of company stock valued at $1,099,207. Company insiders own 4.10% of the company’s stock.

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.