Mariner LLC Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Mariner LLC raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,837 shares of the company’s stock after purchasing an additional 77 shares during the period. Mariner LLC’s holdings in Inspire Medical Systems were worth $897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after purchasing an additional 38,219 shares during the last quarter. Invesco Ltd. grew its stake in shares of Inspire Medical Systems by 14.3% during the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock worth $147,021,000 after acquiring an additional 99,030 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after acquiring an additional 2,687 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth about $80,419,000. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock worth $61,709,000 after acquiring an additional 58,447 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

INSP stock opened at $157.79 on Tuesday. The firm has a market cap of $4.70 billion, a PE ratio of 91.21, a P/E/G ratio of 2.86 and a beta of 1.39. The firm’s fifty day moving average is $162.45 and its 200 day moving average is $180.71. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

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 the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of research analyst reports. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a research note on Monday, April 21st. Robert W. Baird dropped their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their target price on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Finally, Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $218.90.

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company 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.