Assenagon Asset Management S.A. Has $2.68 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Assenagon Asset Management S.A. cut its holdings in Inspire Medical Systems, Inc. (NYSE:INSPFree Report) by 64.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 13,149 shares of the company’s stock after selling 23,820 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Inspire Medical Systems were worth $2,675,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INSP. FMR LLC boosted its holdings in Inspire Medical Systems by 130.1% in the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock valued at $490,437,000 after acquiring an additional 1,397,510 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Inspire Medical Systems by 72.8% in the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares during the last quarter. Norges Bank bought a new position in Inspire Medical Systems in the fourth quarter valued at about $65,929,000. Envestnet Asset Management Inc. boosted its holdings in Inspire Medical Systems by 1,117.0% during the first quarter. Envestnet Asset Management Inc. now owns 231,421 shares of the company’s stock worth $4,586,000 after buying an additional 212,406 shares during the last quarter. Finally, 1832 Asset Management L.P. bought a new position in Inspire Medical Systems during the first quarter worth about $43,186,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $205.06 on Wednesday. The business’s 50 day simple moving average is $198.96 and its 200 day simple moving average is $180.75. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00. The firm has a market cap of $6.21 billion, a PE ratio of -277.11 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSPGet Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. During the same quarter last year, the firm earned $0.10 EPS. Inspire Medical Systems’s revenue for the quarter was up 39.6% compared to the same quarter last year. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Analyst Ratings Changes

INSP has been the topic of a number of recent analyst reports. KeyCorp initiated coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 target price on the stock. Mizuho restated a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Truist Financial restated a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company cut Inspire Medical Systems from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $245.00 to $187.00 in a report on Wednesday, December 13th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $271.29.

View Our Latest Research Report on Inspire Medical Systems

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $197.81, for a total transaction of $109,586.74. Following the transaction, the director now owns 10,636 shares of the company’s stock, valued at approximately $2,103,907.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $197.81, for a total value of $109,586.74. Following the transaction, the director now directly owns 10,636 shares in the company, valued at approximately $2,103,907.16. The disclosure for this sale can be found here. Insiders have sold 21,339 shares of company stock valued at $4,003,381 in the last 90 days. 4.10% of the stock is currently owned by insiders.

About Inspire Medical Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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