Victory Capital Management Inc. Acquires 643 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Victory Capital Management Inc. grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,849 shares of the company’s stock after buying an additional 643 shares during the quarter. Victory Capital Management Inc. owned approximately 0.28% of Inspire Medical Systems worth $17,485,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its position in Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 shares in the last quarter. Tidal Investments LLC acquired a new position in shares of Inspire Medical Systems during the 1st quarter worth about $1,151,000. AQR Capital Management LLC increased its stake in shares of Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after purchasing an additional 140,090 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in shares of Inspire Medical Systems by 27.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock worth $8,699,000 after purchasing an additional 8,625 shares during the last quarter. Finally, SG Americas Securities LLC increased its stake in shares of Inspire Medical Systems by 114.2% during the 2nd quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock worth $833,000 after purchasing an additional 3,321 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

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 shares were 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 of the company’s stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Stock Up 0.4 %

Shares of NYSE:INSP opened at $176.04 on Wednesday. The company’s 50 day moving average price is $201.34 and its two-hundred day moving average price is $176.63. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a market cap of $5.28 billion, a PE ratio of 163.83 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the prior year, the business posted ($0.29) EPS. The business’s revenue was up 32.6% compared to the same quarter last year. On average, research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Piper Sandler restated an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $227.75.

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.