9,997 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Acquired by XTX Topco Ltd

XTX Topco Ltd bought a new position 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 institutional investor bought 9,997 shares of the company’s stock, valued at approximately $1,338,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. SouthState Corp purchased a new position in Inspire Medical Systems in the 2nd quarter worth approximately $27,000. Daiwa Securities Group Inc. purchased a new position in Inspire Medical Systems during the second quarter worth approximately $53,000. Principal Securities Inc. purchased a new position in Inspire Medical Systems during the fourth quarter worth approximately $54,000. Van ECK Associates Corp boosted its stake in Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares during the last quarter. Finally, RiverPark Advisors LLC grew its holdings in Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after buying an additional 605 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INSP shares. Truist Financial lowered their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Wednesday, August 7th. KeyCorp reduced their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Stifel Nicolaus lowered their price objective on 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. Finally, Morgan Stanley reduced their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $214.85.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems 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 completion of the sale, 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 available through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the 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 completion of the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The disclosure for this sale can be found here. Over the last three months, insiders 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

Shares of NYSE:INSP opened at $212.85 on Friday. The firm has a market capitalization of $6.32 billion, a PE ratio of -387.00 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 50-day moving average is $176.48 and its two-hundred day moving average is $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 analysts’ consensus estimates of ($0.14) by $0.46. The company 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 firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same period in the prior year, the business earned ($0.41) EPS. Analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal 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.