Aigen Investment Management LP Purchases New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)

Aigen Investment Management LP acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,077 shares of the company’s stock, valued at approximately $649,000.

A number of other hedge funds have also recently modified their holdings of the business. Bank of New York Mellon Corp increased its stake in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after acquiring an additional 192,238 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in shares of Inspire Medical Systems by 1.8% during the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after purchasing an additional 13,602 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after purchasing an additional 156,893 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after buying an additional 140,090 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems 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 transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on INSP shares. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Robert W. Baird increased their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $227.75.

Inspire Medical Systems Trading Down 4.5 %

Shares of INSP opened at $182.08 on Thursday. The firm has a fifty day simple moving average of $203.34 and a two-hundred day simple moving average of $178.59. The firm has a market cap of $5.46 billion, a PE ratio of 170.17 and a beta of 1.36. 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 issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Inspire Medical Systems’s revenue was up 32.6% compared to the same quarter last year. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

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.