Inspire Medical Systems, Inc. (NYSE:INSP) Stock Position Raised by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1,587.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,294 shares of the company’s stock after purchasing an additional 33,202 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Inspire Medical Systems were worth $6,543,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its holdings in shares of Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Harbour Investments Inc. grew its stake in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 99 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after purchasing an additional 291 shares during the period. Smartleaf Asset Management LLC lifted its position in shares of Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after purchasing an additional 100 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $149.72 on Tuesday. The stock’s 50 day simple moving average is $175.25 and its 200 day simple moving average is $187.63. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 86.54, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on INSP shares. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Truist Financial lowered their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird lowered their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $226.70.

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.