51,051 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Acquired by Stanley Laman Group Ltd.

Stanley Laman Group Ltd. purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 51,051 shares of the company’s stock, valued at approximately $10,385,000. Inspire Medical Systems accounts for about 1.6% of Stanley Laman Group Ltd.’s portfolio, making the stock its 5th largest position. Stanley Laman Group Ltd. owned 0.17% of Inspire Medical Systems as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC raised its position in shares of Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock valued at $490,437,000 after purchasing an additional 1,397,510 shares during the period. Baillie Gifford & Co. grew its stake in shares of Inspire Medical Systems by 6,846.9% in the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after buying an additional 1,212,175 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Inspire Medical Systems by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock worth $193,870,000 after buying an additional 411,480 shares in the last quarter. Jennison Associates LLC grew its stake in shares of Inspire Medical Systems by 648.2% in the 4th quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock worth $62,023,000 after buying an additional 264,139 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in Inspire Medical Systems by 29.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock valued at $145,337,000 after purchasing an additional 168,733 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Price Performance

INSP stock traded down $3.18 during midday trading on Thursday, hitting $231.01. 215,723 shares of the stock traded hands, compared to its average volume of 527,696. The firm has a market cap of $7.00 billion, a P/E ratio of -312.18 and a beta of 1.37. The stock’s fifty day simple moving average is $206.65 and its 200-day simple moving average is $185.40. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company’s revenue was up 39.6% compared to the same quarter last year. During the same period last year, the firm posted $0.10 earnings per share. On average, research analysts predict that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on INSP shares. Morgan Stanley started coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Royal Bank of Canada assumed coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 target price on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target for the company. Finally, Truist Financial reaffirmed a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average price target of $272.20.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares of the company’s stock, valued at $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the sale, the insider now owns 3,029 shares of the company’s stock, valued at $551,308.29. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock valued at $15,664,278 over the last ninety days. 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.