Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Braidwell LP

Braidwell LP cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 37.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 238,911 shares of the company’s stock after selling 140,532 shares during the period. Inspire Medical Systems makes up about 1.4% of Braidwell LP’s portfolio, making the stock its 28th largest holding. Braidwell LP owned 0.80% of Inspire Medical Systems worth $50,422,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Verition Fund Management LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter worth about $757,000. Captrust Financial Advisors acquired a new stake in Inspire Medical Systems in the 3rd quarter worth about $628,000. Public Sector Pension Investment Board acquired a new stake in Inspire Medical Systems in the 3rd quarter worth about $13,359,000. BNP Paribas Financial Markets boosted its holdings in Inspire Medical Systems by 99.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after buying an additional 2,352 shares during the last quarter. Finally, Algert Global LLC boosted its holdings in Inspire Medical Systems by 145.1% in the 3rd quarter. Algert Global LLC now owns 45,563 shares of the company’s stock worth $9,616,000 after buying an additional 26,971 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $194.00 on Friday. The firm has a 50 day moving average price of $198.36 and a 200 day moving average price of $175.98. The company has a market capitalization of $5.81 billion, a PE ratio of 181.31 and a beta of 1.36. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 800 shares of the company’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 sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

INSP has been the topic of a number of research reports. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Piper Sandler reissued an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. KeyCorp decreased their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Leerink Partners lifted their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $233.58.

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.