Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Bridgewater Associates LP

Bridgewater Associates LP lowered its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 14.2% during the third quarter, Holdings Channel.com reports. The firm owned 4,540 shares of the company’s stock after selling 752 shares during the quarter. Bridgewater Associates LP’s holdings in Inspire Medical Systems were worth $958,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Van ECK Associates Corp grew its position in shares of Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares in the last quarter. Amalgamated Bank grew its position in shares of Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after buying an additional 79 shares in the last quarter. Signaturefd LLC grew its position in shares of 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. The Manufacturers Life Insurance Company grew its position in shares of Inspire Medical Systems by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after buying an additional 92 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its position in shares of Inspire Medical Systems by 0.8% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In other 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 completion of the sale, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Down 0.6 %

Shares of NYSE INSP opened at $192.76 on Monday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a 50 day moving average of $197.96 and a two-hundred day moving average of $176.45. The stock has a market cap of $5.78 billion, a P/E ratio of 180.15 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last issued 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 return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on INSP shares. Piper Sandler reissued an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Leerink Partners upped their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Truist Financial reaffirmed a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus 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.