International Assets Investment Management LLC Purchases Shares of 814 Inspire Medical Systems, Inc. (NYSE:INSP)

International Assets Investment Management LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, HoldingsChannel reports. The fund purchased 814 shares of the company’s stock, valued at approximately $166,000.

Several other hedge funds have also recently bought and sold shares of INSP. FMR LLC raised its stake in shares of 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 stake 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 worth $193,870,000 after purchasing an additional 411,480 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Inspire Medical Systems by 29.9% during the third quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock worth $145,337,000 after purchasing an additional 168,733 shares during the last quarter. Federated Hermes Inc. increased its stake in shares of Inspire Medical Systems by 31.8% in the third quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock valued at $98,506,000 after buying an additional 119,846 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Inspire Medical Systems by 52.1% in the third quarter. Bank of New York Mellon Corp now owns 373,794 shares of the company’s stock valued at $74,176,000 after buying an additional 128,078 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INSP has been the topic of a number of research analyst reports. Morgan Stanley began coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective on the stock. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective for the company. Truist Financial reiterated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 price target on the stock. Finally, Mizuho reiterated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $272.20.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $237.45 on Monday. The company has a 50 day moving average price of $207.54 and a two-hundred day moving average price of $185.97. The company has a market capitalization of $7.19 billion, a PE ratio of -320.88 and a beta of 1.37. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The business had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In related news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock valued at $15,664,278 over the last 90 days. 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.