Holocene Advisors LP Takes $1.35 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Holocene Advisors LP purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to its most recent filing with the SEC. The firm purchased 6,374 shares of the company’s stock, valued at approximately $1,345,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. SouthState Corp acquired a new stake in Inspire Medical Systems in the second quarter worth $27,000. True Wealth Design LLC acquired a new stake in Inspire Medical Systems during the 3rd quarter worth $30,000. Farther Finance Advisors LLC lifted its holdings in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after acquiring an additional 151 shares in the last quarter. Finally, Quarry LP grew its stake in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares during the period. Institutional investors own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In other news, 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 transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on INSP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Leerink Partners increased their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Truist Financial reaffirmed a “buy” rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Trading Up 0.7 %

Shares of INSP stock opened at $193.03 on Friday. The firm’s fifty day moving average price is $196.36 and its two-hundred day moving average price is $177.42. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market capitalization of $5.79 billion, a P/E ratio of 180.40 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. Inspire Medical Systems’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Inspire Medical Systems Company 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.