4,485 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Acquired by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, Holdings Channel reports. The fund acquired 4,485 shares of the company’s stock, valued at approximately $947,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of 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 valued at $56,530,000 after purchasing an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after purchasing an additional 156,893 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after purchasing an additional 140,090 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after buying an additional 137,483 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 800 shares of the business’s 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 owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Inspire Medical Systems Price Performance

INSP opened at $189.05 on Wednesday. The firm has a market capitalization of $5.67 billion, a price-to-earnings ratio of 176.68 and a beta of 1.36. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The business has a 50 day simple moving average of $199.01 and a two-hundred day simple moving average of $175.73.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating 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 business had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INSP. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Piper Sandler reaffirmed 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. Robert W. Baird upped their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $233.58.

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.