Treasurer of the State of North Carolina Raises Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Treasurer of the State of North Carolina grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSPFree Report) by 1.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 12,750 shares of the company’s stock after acquiring an additional 120 shares during the period. Treasurer of the State of North Carolina’s holdings in Inspire Medical Systems were worth $2,594,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in INSP. FMR LLC increased its stake in shares of Inspire Medical Systems by 130.1% in the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after acquiring an additional 1,397,510 shares in the last quarter. Baillie Gifford & Co. grew its holdings in Inspire Medical Systems by 6,846.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after purchasing an additional 1,212,175 shares during the period. Wellington Management Group LLP increased its stake in shares of Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after purchasing an additional 411,480 shares in the last quarter. Westfield Capital Management Co. LP lifted 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 valued at $145,337,000 after purchasing an additional 168,733 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Inspire Medical Systems by 31.8% in the 3rd quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock worth $98,506,000 after purchasing an additional 119,846 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 3.0 %

Shares of NYSE:INSP opened at $156.04 on Friday. The stock has a market capitalization of $4.64 billion, a PE ratio of -283.71 and a beta of 1.33. The firm’s 50 day moving average price is $199.48 and its 200-day moving average price is $191.69. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00.

Inspire Medical Systems (NYSE:INSPGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The company’s quarterly revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm earned ($0.53) earnings per share. Analysts expect that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the company’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 completion of the sale, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were 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 owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The shares were 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 61,081 shares of company stock worth $12,840,253. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

INSP has been the subject of a number of recent research reports. Mizuho reiterated a “buy” rating and set a $250.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Truist Financial reiterated a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective on the stock. Morgan Stanley started coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price for the company. Finally, Piper Sandler increased their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $253.87.

Check Out Our Latest Stock Report on INSP

Inspire Medical Systems Profile

(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.

Further Reading

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

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