Inspire Medical Systems, Inc. (NYSE:INSP) Position Increased by nVerses Capital LLC

nVerses Capital LLC lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 18.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,900 shares of the company’s stock after acquiring an additional 300 shares during the period. nVerses Capital LLC’s holdings in Inspire Medical Systems were worth $401,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its stake in Inspire Medical Systems by 182.2% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,502 shares of the company’s stock valued at $1,526,000 after purchasing an additional 4,844 shares during the period. Rheos Capital Works Inc. raised its position in Inspire Medical Systems by 25.8% during the first quarter. Rheos Capital Works Inc. now owns 79,400 shares of the company’s stock valued at $17,054,000 after buying an additional 16,300 shares during the period. Private Ocean LLC purchased a new stake in Inspire Medical Systems in the 1st quarter worth about $2,738,000. Diversified Trust Co lifted its stake in Inspire Medical Systems by 26.6% in the 1st quarter. Diversified Trust Co now owns 5,471 shares of the company’s stock worth $1,175,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Wasatch Advisors LP boosted its position in Inspire Medical Systems by 0.5% during the 1st 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. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $197.18 on Friday. The stock’s 50 day simple moving average is $199.71 and its 200 day simple moving average is $183.05. 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 $5.86 billion, a price-to-earnings ratio of -358.51 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.41) earnings per share. On average, analysts forecast that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. KeyCorp lowered their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, Morgan Stanley lowered their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $219.58.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The stock was 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 in the last quarter. Insiders own 4.10% of the company’s stock.

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.