PDT Partners LLC Invests $4.94 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

PDT Partners LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 23,387 shares of the company’s stock, valued at approximately $4,936,000. PDT Partners LLC owned approximately 0.08% of Inspire Medical Systems at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in INSP. Verition Fund Management LLC bought a new position in Inspire Medical Systems in the 3rd quarter valued at about $757,000. Captrust Financial Advisors bought a new stake in Inspire Medical Systems during the third quarter worth $628,000. Public Sector Pension Investment Board bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $13,359,000. BNP Paribas Financial Markets increased its position in Inspire Medical Systems by 99.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after purchasing an additional 2,352 shares in the last quarter. Finally, Algert Global LLC grew its position in Inspire Medical Systems by 145.1% during the 3rd quarter. Algert Global LLC now owns 45,563 shares of the company’s stock worth $9,616,000 after acquiring an additional 26,971 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Trading Down 0.7 %

Shares of INSP opened at $192.67 on Friday. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The firm has a fifty day simple moving average of $197.96 and a two-hundred day simple moving average of $176.21. The firm has a market cap of $5.77 billion, a PE ratio of 180.07 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million for 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 revenue was up 32.6% on a year-over-year basis. During the same period last year, the firm earned ($0.29) EPS. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. KeyCorp decreased their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Piper Sandler reissued an “overweight” rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $233.58.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on 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 owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

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.