Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 26.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,666 shares of the company’s stock after selling 5,527 shares during the period. The Manufacturers Life Insurance Company’s holdings in Inspire Medical Systems were worth $3,306,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in INSP. Farther Finance Advisors LLC grew its stake in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares in the last quarter. SouthState Corp purchased a new position in Inspire Medical Systems in the second quarter valued at $27,000. Signaturefd LLC grew its stake in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares in the last quarter. Finally, Quarry LP increased its holdings in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

INSP opened at $193.03 on Friday. The business has a 50 day moving average price of $196.36 and a two-hundred day moving average price of $177.59. The company has a market capitalization of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31. 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 posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for 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 firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.29) earnings per share. Equities analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target 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.