Fmr LLC Has $622.14 Million Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Fmr LLC trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 3.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,947,816 shares of the company’s stock after selling 90,950 shares during the quarter. Fmr LLC owned approximately 0.10% of Inspire Medical Systems worth $622,137,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after acquiring an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after buying an additional 192,238 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Finally, Eagle Asset Management Inc. grew its holdings in Inspire Medical Systems by 82.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock worth $51,269,000 after acquiring an additional 117,819 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on 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 approximately $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Up 2.6 %

NYSE INSP opened at $194.00 on Friday. The firm has a market capitalization of $5.81 billion, a P/E ratio of 181.31 and a beta of 1.36. The business has a fifty day simple moving average of $198.36 and a 200 day simple moving average of $175.98. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) EPS. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on INSP shares. Truist Financial reissued a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.