AQR Capital Management LLC Raises Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

AQR Capital Management LLC boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 152.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 231,845 shares of the company’s stock after purchasing an additional 140,090 shares during the period. AQR Capital Management LLC owned about 0.78% of Inspire Medical Systems worth $31,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp purchased a new position in Inspire Medical Systems in the second quarter valued at about $27,000. Daiwa Securities Group Inc. acquired a new stake in Inspire Medical Systems during the second quarter valued at approximately $53,000. Van ECK Associates Corp raised its stake in Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after buying an additional 72 shares in the last quarter. RiverPark Advisors LLC raised its stake in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after buying an additional 605 shares in the last quarter. Finally, CWM LLC raised its stake in Inspire Medical Systems by 101.6% during the second quarter. CWM LLC now owns 1,246 shares of the company’s stock valued at $167,000 after buying an additional 628 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INSP shares. KeyCorp cut their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Bank of America cut their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Morgan Stanley cut their price objective on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.85.

Inspire Medical Systems Price Performance

INSP opened at $202.48 on Monday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market cap of $6.02 billion, a P/E ratio of -368.15 and a beta of 1.33. The stock’s 50 day moving average price is $183.08 and its 200 day moving average price is $182.41.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm earned ($0.41) EPS. The firm’s revenue was up 29.6% compared to the same quarter last year. Equities analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The stock was 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 approximately $576,208.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction 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 transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is owned by corporate insiders.

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.