Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by RiverPark Advisors LLC

RiverPark Advisors LLC lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 360.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 773 shares of the company’s stock after purchasing an additional 605 shares during the period. RiverPark Advisors LLC’s holdings in Inspire Medical Systems were worth $166,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Baillie Gifford & Co. raised its position in Inspire Medical Systems by 19.3% during the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after acquiring an additional 237,734 shares during the period. Wellington Management Group LLP raised its position in Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after acquiring an additional 453,294 shares during the period. Wasatch Advisors LP raised its position in Inspire Medical Systems by 0.5% during the first quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after acquiring an additional 5,522 shares during the period. Frontier Capital Management Co. LLC raised its position in Inspire Medical Systems by 105.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after acquiring an additional 380,362 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Inspire Medical Systems by 49.5% during the first quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock worth $127,924,000 after acquiring an additional 197,097 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

INSP has been the subject of a number of research analyst reports. Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Piper Sandler upped their target price on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Mizuho reaffirmed a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Finally, Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a report on Friday, April 19th. They set an “outperform” rating and a $285.00 target price for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $251.20.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Price Performance

Shares of INSP traded down $4.43 during mid-day trading on Tuesday, reaching $131.54. The stock had a trading volume of 462,592 shares, compared to its average volume of 595,774. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00. The business’s fifty day moving average is $163.08 and its 200 day moving average is $189.83. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -239.16 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.29. The company had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. Inspire Medical Systems’s revenue was up 28.2% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.53) earnings per share. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.16 EPS for the current fiscal year.

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.