WCM Investment Management LLC Buys New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)

WCM Investment Management LLC purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 55,735 shares of the company’s stock, valued at approximately $10,291,000. WCM Investment Management LLC owned approximately 0.19% of Inspire Medical Systems at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Jennison Associates LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at about $8,821,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $292,000. TriaGen Wealth Management LLC increased its position in shares of Inspire Medical Systems by 5.4% during the 4th quarter. TriaGen Wealth Management LLC now owns 2,137 shares of the company’s stock worth $396,000 after purchasing an additional 110 shares during the last quarter. KBC Group NV raised its stake in shares of Inspire Medical Systems by 52.3% during the 4th quarter. KBC Group NV now owns 1,325 shares of the company’s stock worth $246,000 after purchasing an additional 455 shares in the last quarter. Finally, Fifth Third Bancorp boosted its holdings in shares of Inspire Medical Systems by 19.8% in the 4th quarter. Fifth Third Bancorp now owns 1,623 shares of the company’s stock valued at $301,000 after buying an additional 268 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

INSP opened at $182.00 on Monday. The business has a fifty day simple moving average of $189.72 and a 200 day simple moving average of $190.31. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market capitalization of $5.45 billion, a PE ratio of 170.10 and a beta of 1.32.

Wall Street Analyst Weigh In

INSP has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $231.45.

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.