Private Ocean LLC Purchases Shares of 12,748 Inspire Medical Systems, Inc. (NYSE:INSP)

Private Ocean LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 12,748 shares of the company’s stock, valued at approximately $2,738,000.

Several other large investors have also recently bought and sold shares of INSP. Wellington Management Group LLP increased its holdings in shares of Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after purchasing an additional 453,294 shares during the period. Baillie Gifford & Co. boosted its position in shares of Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after acquiring an additional 1,212,175 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Inspire Medical Systems by 12.2% during the 4th quarter. Wasatch Advisors LP now owns 1,097,345 shares of the company’s stock worth $223,233,000 after acquiring an additional 119,738 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Inspire Medical Systems by 105.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after acquiring an additional 380,362 shares in the last quarter. Finally, Jennison Associates LLC boosted its position in shares of Inspire Medical Systems by 648.2% during the 4th quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock worth $62,023,000 after acquiring an additional 264,139 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction 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 $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders sold 55,032 shares of company stock valued at $11,660,898 over the last quarter. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Down 1.1 %

Shares of NYSE:INSP opened at $133.83 on Friday. The firm’s fifty day moving average is $177.05 and its 200-day moving average is $192.44. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00.

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

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They issued an “outperform” rating and a $285.00 target price on the stock. Truist Financial restated a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Bank of America cut 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 report on Monday, June 3rd. Finally, Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $251.20.

Inspire Medical Systems Company 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.