Point72 DIFC Ltd Acquires Shares of 6,828 Inspire Medical Systems, Inc. (NYSE:INSP)

Point72 DIFC Ltd bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,828 shares of the company’s stock, valued at approximately $914,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp purchased a new position in shares of Inspire Medical Systems during the 2nd quarter valued at $27,000. Daiwa Securities Group Inc. bought a new position in Inspire Medical Systems during the second quarter worth about $53,000. RiverPark Advisors LLC increased its stake in shares of Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after purchasing an additional 72 shares during the period. Finally, Moody National Bank Trust Division purchased a new stake in shares of Inspire Medical Systems during the 1st quarter valued at approximately $238,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of the company’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 in the company, valued at approximately $576,208.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $208.42 on Thursday. The stock has a market cap of $6.22 billion, a PE ratio of -378.95 and a beta of 1.33. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a fifty day moving average price of $180.54 and a 200-day moving average price of $182.33.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $189.08 million. During the same period in the previous year, the business earned ($0.41) earnings per share. The business’s revenue was up 29.6% on a year-over-year basis. On average, research analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INSP shares. Bank of America lowered their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Leerink Partners raised their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. KeyCorp cut their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Truist Financial lowered their price target on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $214.85.

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.