20,768 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Purchased by Granite Investment Partners LLC

Granite Investment Partners LLC bought a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 20,768 shares of the company’s stock, valued at approximately $2,779,000. Granite Investment Partners LLC owned approximately 0.07% of Inspire Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. Wellington Management Group LLP grew 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 last quarter. Frontier Capital Management Co. LLC raised its holdings in 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 acquiring an additional 380,362 shares during the last quarter. Norges Bank bought a new position in Inspire Medical Systems in the 4th quarter valued at approximately $49,116,000. Baillie Gifford & Co. boosted its stake in Inspire Medical Systems by 19.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after purchasing an additional 237,734 shares during the last quarter. Finally, Bank of New York Mellon Corp increased 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. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $212.85 on Friday. 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 capitalization of $6.32 billion, a P/E ratio of -387.00 and a beta of 1.33. The company has a fifty day moving average of $176.48 and a 200 day moving average of $182.06.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $189.08 million. During the same quarter last year, the business posted ($0.41) earnings per share. The firm’s revenue was up 29.6% on a year-over-year basis. Analysts forecast that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were 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 in the company, valued at approximately $5,090,800. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred 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 owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INSP has been the topic of several recent analyst reports. Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Bank of America lowered their price objective on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Stifel Nicolaus cut their target price on shares of 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. Robert W. Baird lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, KeyCorp cut their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $214.85.

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.