63,300 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Purchased by Public Sector Pension Investment Board

Public Sector Pension Investment Board purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 63,300 shares of the company’s stock, valued at approximately $13,359,000. Public Sector Pension Investment Board owned about 0.21% of Inspire Medical Systems as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of INSP. SouthState Corp acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth about $27,000. Farther Finance Advisors LLC grew its stake in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the period. GAMMA Investing LLC grew its stake in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 151 shares during the period. Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after buying an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at approximately $53,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Up 2.6 %

Inspire Medical Systems stock opened at $194.00 on Friday. The firm has a market cap of $5.81 billion, a PE ratio of 181.31 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The company’s 50 day moving average is $198.36 and its two-hundred day moving average is $175.98.

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on INSP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Wells Fargo & Company increased their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently 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.