Rhenman & Partners Asset Management AB Raises Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Rhenman & Partners Asset Management AB grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 23.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 150,041 shares of the company’s stock after acquiring an additional 28,041 shares during the quarter. Inspire Medical Systems accounts for 2.9% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 7th largest holding. Rhenman & Partners Asset Management AB owned approximately 0.50% of Inspire Medical Systems worth $27,815,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. lifted its position in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the period. Huntington National Bank lifted its position in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares during the period. Harbour Investments Inc. lifted its position in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 shares during the period. AlphaQuest LLC boosted its stake in Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after buying an additional 291 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after buying an additional 229 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock valued at $4,806,530. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $141.49 on Friday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a market cap of $4.21 billion, a P/E ratio of 81.78, a P/E/G ratio of 2.86 and a beta of 1.39. The business’s fifty day moving average is $175.94 and its two-hundred day moving average is $188.34.

Inspire Medical Systems (NYSE:INSP) last released its quarterly 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 research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on INSP shares. Morgan Stanley decreased their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird decreased their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Piper Sandler lowered their price objective on 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 cut 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 report on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $226.70.

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.