Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3,812.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 141,089 shares of the company’s stock after purchasing an additional 137,483 shares during the period. Principal Financial Group Inc. owned 0.47% of Inspire Medical Systems worth $29,777,000 at the end of the most recent quarter.

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

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems 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 completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,692 shares of company stock worth $1,099,207. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird raised their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler restated an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $190.73 on Wednesday. The firm has a 50-day moving average of $203.06 and a two-hundred day moving average of $178.92. The stock has a market cap of $5.72 billion, a P/E ratio of 178.25 and a beta of 1.36. 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 earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations 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 was up 32.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.29) EPS. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

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.