The Manufacturers Life Insurance Company Grows Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

The Manufacturers Life Insurance Company lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.4% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,193 shares of the company’s stock after purchasing an additional 92 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Inspire Medical Systems worth $2,836,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Frontier Capital Management Co. LLC increased its position 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. Braidwell LP boosted its holdings in Inspire Medical Systems by 84.1% in the fourth quarter. Braidwell LP now owns 184,658 shares of the company’s stock valued at $37,565,000 after acquiring an additional 84,358 shares during the last quarter. First Light Asset Management LLC purchased a new stake in Inspire Medical Systems during the fourth quarter valued at about $18,008,000. Iron Triangle Partners LP acquired a new stake in Inspire Medical Systems during the fourth quarter worth about $30,514,000. Finally, Mairs & Power Inc. raised its holdings in shares of Inspire Medical Systems by 3.4% in the 4th quarter. Mairs & Power Inc. now owns 64,609 shares of the company’s stock worth $13,143,000 after purchasing an additional 2,098 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 0.4 %

NYSE:INSP opened at $206.37 on Wednesday. The company has a market cap of $6.13 billion, a PE ratio of -375.22 and a beta of 1.34. The business’s 50 day moving average is $191.95 and its two-hundred day moving average is $182.96. 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 firm 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 was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) earnings per share. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on INSP shares. Stifel Nicolaus dropped 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. Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. KeyCorp lowered their price target 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. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Finally, Truist Financial reiterated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $216.62.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred 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 transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’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 sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last quarter. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems 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.