Evolutionary Tree Capital Management LLC Has $1.45 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Evolutionary Tree Capital Management LLC lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 5.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,800 shares of the company’s stock after selling 566 shares during the quarter. Inspire Medical Systems makes up about 1.5% of Evolutionary Tree Capital Management LLC’s portfolio, making the stock its 28th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Inspire Medical Systems were worth $1,445,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Canada Pension Plan Investment Board raised its holdings in shares of Inspire Medical Systems by 14.4% in the second quarter. Canada Pension Plan Investment Board now owns 70,500 shares of the company’s stock valued at $9,435,000 after purchasing an additional 8,900 shares during the last quarter. Granite Investment Partners LLC bought a new position in Inspire Medical Systems in the second quarter valued at $2,779,000. Intech Investment Management LLC increased its stake in Inspire Medical Systems by 23.3% in the 2nd quarter. Intech Investment Management LLC now owns 12,326 shares of the company’s stock valued at $1,650,000 after buying an additional 2,328 shares during the last quarter. XTX Topco Ltd bought a new stake in Inspire Medical Systems during the 2nd quarter worth about $1,338,000. Finally, Seven Eight Capital LP acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth about $3,098,000. Institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on INSP shares. Robert W. Baird lowered 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 dropped their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Truist Financial cut their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Leerink Partners boosted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Finally, Bank of America dropped their price target 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. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average price target of $214.85.

Inspire Medical Systems Stock Up 0.4 %

Inspire Medical Systems stock opened at $212.85 on Friday. The company’s 50-day moving average price is $176.48 and its two-hundred day moving average price is $182.07. The stock has a market cap of $6.32 billion, a P/E ratio of -387.00 and a beta of 1.33. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share 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 business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm posted ($0.41) EPS. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of the firm’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on 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 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 SEC, which is accessible through the SEC website. Also, 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 completion of the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is owned by company insiders.

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.