Oak Ridge Investments LLC Decreases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Oak Ridge Investments LLC reduced its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 20.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,904 shares of the company’s stock after selling 6,431 shares during the period. Oak Ridge Investments LLC’s holdings in Inspire Medical Systems were worth $4,617,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC purchased a new stake in shares of Inspire Medical Systems in the third quarter valued at about $30,000. Farther Finance Advisors LLC lifted its stake in 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 in the last quarter. GAMMA Investing LLC grew its holdings in Inspire Medical Systems by 559.3% during 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 last quarter. Signaturefd LLC increased its position in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after buying an additional 85 shares in the last quarter. Finally, Quarry LP raised its holdings in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after acquiring an additional 176 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

INSP has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. 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 research note on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company lifted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Price Performance

NYSE INSP opened at $177.97 on Friday. The business’s 50-day simple moving average is $189.18 and its 200-day simple moving average is $185.05. The firm has a market capitalization of $5.33 billion, a P/E ratio of 166.33 and a beta of 1.32. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same period in the previous year, the firm earned ($0.29) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

About Inspire Medical Systems

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.