Marshall Wace LLP Invests $5.42 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Marshall Wace LLP purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 40,473 shares of the company’s stock, valued at approximately $5,417,000. Marshall Wace LLP owned about 0.14% of Inspire Medical Systems as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp grew its stake in Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after buying an additional 72 shares during the last quarter. Amalgamated Bank grew its stake in Inspire Medical Systems by 4.1% in the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after buying an additional 79 shares during the last quarter. Bessemer Group Inc. grew its stake in Inspire Medical Systems by 1.2% in the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock valued at $1,820,000 after buying an additional 100 shares during the last quarter. Treasurer of the State of North Carolina grew its stake in Inspire Medical Systems by 1.0% in the 4th quarter. Treasurer of the State of North Carolina now owns 12,750 shares of the company’s stock valued at $2,594,000 after buying an additional 120 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its stake in Inspire Medical Systems by 0.8% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock valued at $2,075,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems 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 transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated 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 $576,208.80. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock valued at $1,099,207 in the last ninety days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

INSP has been the topic of a number of research analyst reports. Leerink Partners raised their target price 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. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday. Robert W. Baird decreased their price target on shares of 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $216.62.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $209.36 on Wednesday. The company has a 50-day moving average of $185.85 and a 200-day moving average of $182.66. The company has a market capitalization of $6.22 billion, a price-to-earnings ratio of -380.65 and a beta of 1.33. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period last year, the firm earned ($0.41) EPS. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

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) 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.