Algert Global LLC Increases Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Algert Global LLC lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 15.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,592 shares of the company’s stock after purchasing an additional 2,542 shares during the period. Algert Global LLC owned about 0.06% of Inspire Medical Systems worth $2,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP raised its stake in Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after buying an additional 453,294 shares in the last quarter. Frontier Capital Management Co. LLC lifted its stake in Inspire Medical Systems by 105.2% during the fourth 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 during the last quarter. Baillie Gifford & Co. boosted its holdings in Inspire Medical Systems by 19.3% in the first 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 in the last quarter. Bank of New York Mellon Corp boosted its holdings in Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after purchasing an additional 192,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after purchasing an additional 156,893 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the firm’s 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 completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The shares were 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 of the company’s stock, valued at approximately $576,208.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,692 shares of company stock worth $1,099,207. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $209.36 on Wednesday. The firm has a market cap of $6.22 billion, a price-to-earnings ratio of -380.65 and a beta of 1.33. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The firm’s fifty day moving average price is $185.85 and its 200 day moving average price is $182.66.

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

Analysts Set New Price Targets

INSP has been the subject of several research analyst reports. Stifel Nicolaus lowered 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 report on Monday, June 24th. Leerink Partners upped their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Robert W. Baird cut their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Morgan Stanley decreased their target price 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.62.

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.