Moore Capital Management LP Has $17.57 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Moore Capital Management LP lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) by 33.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,034 shares of the company’s stock after acquiring an additional 25,098 shares during the period. Moore Capital Management LP owned approximately 0.34% of Inspire Medical Systems worth $17,566,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. MetLife Investment Management LLC raised its holdings in Inspire Medical Systems by 4.9% during the 3rd quarter. MetLife Investment Management LLC now owns 14,952 shares of the company’s stock worth $2,652,000 after buying an additional 699 shares during the period. Duality Advisers LP acquired a new stake in Inspire Medical Systems during the 3rd quarter worth approximately $1,937,000. Allianz Asset Management GmbH acquired a new stake in Inspire Medical Systems during the 3rd quarter worth approximately $3,373,000. EFG Asset Management North America Corp. raised its holdings in Inspire Medical Systems by 5.6% during the 3rd quarter. EFG Asset Management North America Corp. now owns 11,119 shares of the company’s stock worth $1,975,000 after buying an additional 585 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in Inspire Medical Systems by 6.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,901 shares of the company’s stock worth $1,224,000 after buying an additional 422 shares during the period. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 1.7 %

NYSE:INSP opened at $253.47 on Thursday. Inspire Medical Systems, Inc. has a 1-year low of $142.74 and a 1-year high of $282.31. The firm has a fifty day simple moving average of $256.88 and a 200 day simple moving average of $223.86. The stock has a market capitalization of $7.36 billion, a PE ratio of -154.55 and a beta of 1.47.

Inspire Medical Systems (NYSE:INSP – Get Rating) last released its earnings results on Tuesday, February 7th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.64. Inspire Medical Systems had a negative net margin of 11.00% and a negative return on equity of 12.66%. The business had revenue of $137.90 million during the quarter, compared to analysts’ expectations of $137.75 million. During the same period last year, the business earned ($0.09) earnings per share. The firm’s revenue was up 75.9% on a year-over-year basis. On average, equities analysts predict that Inspire Medical Systems, Inc. will post -1.32 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 2,619 shares of Inspire Medical Systems stock in a transaction on Monday, February 13th. The shares were sold at an average price of $275.05, for a total transaction of $720,355.95. Following the completion of the transaction, the chief executive officer now directly owns 9,728 shares of the company’s stock, valued at $2,675,686.40. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Inspire Medical Systems news, CFO Richard Buchholz sold 523 shares of Inspire Medical Systems stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $250.00, for a total transaction of $130,750.00. Following the completion of the transaction, the chief financial officer now directly owns 46,364 shares of the company’s stock, valued at $11,591,000. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Timothy P. Herbert sold 2,619 shares of Inspire Medical Systems stock in a transaction on Monday, February 13th. The stock was sold at an average price of $275.05, for a total transaction of $720,355.95. Following the transaction, the chief executive officer now directly owns 9,728 shares of the company’s stock, valued at $2,675,686.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,678 shares of company stock valued at $17,441,298. 5.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have commented on INSP shares. TheStreet upgraded shares of Inspire Medical Systems from a “d+” rating to a “c” rating in a report on Friday, December 16th. JPMorgan Chase & Co. raised their price target on shares of Inspire Medical Systems from $271.00 to $300.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. The Goldman Sachs Group raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $245.00 to $308.00 in a research note on Tuesday, December 13th. Lake Street Capital raised their price target on shares of Inspire Medical Systems from $250.00 to $305.00 in a research note on Wednesday, February 8th. Finally, Truist Financial raised their price target on shares of Inspire Medical Systems from $310.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $303.00.

Inspire Medical Systems Profile

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.