Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 1,587.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,294 shares of the company’s stock after purchasing an additional 33,202 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.12% of Inspire Medical Systems worth $6,543,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its holdings in Inspire Medical Systems by 99.7% in the third quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock valued at $994,000 after buying an additional 2,352 shares during the last quarter. Captrust Financial Advisors acquired a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $628,000. Verition Fund Management LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at approximately $757,000. State Street Corp raised its position in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after acquiring an additional 459,990 shares in the last quarter. Finally, Hodges Capital Management Inc. acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at approximately $633,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $149.72 on Tuesday. The business has a 50 day simple moving average of $175.25 and a 200 day simple moving average of $187.63. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 86.54, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its 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%. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on INSP shares. Robert W. Baird lowered their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. 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 research note on Tuesday, February 11th. Finally, KeyCorp reiterated an “overweight” rating and set a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.70.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

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.