Impax Asset Management Group plc Decreases Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Impax Asset Management Group plc reduced its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 16.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company’s stock after selling 10,000 shares during the period. Impax Asset Management Group plc owned approximately 0.17% of Inspire Medical Systems worth $10,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in Inspire Medical Systems in the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC lifted its stake in shares of Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the period. GAMMA Investing LLC grew its holdings in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 151 shares during the last quarter. Quarry LP raised its stake in Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after acquiring an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new stake in Inspire Medical Systems during the 2nd quarter worth about $53,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 0.0 %

INSP opened at $172.85 on Friday. The company has a market cap of $5.18 billion, a PE ratio of 163.34 and a beta of 1.36. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a 50-day moving average price of $202.55 and a 200 day moving average price of $178.57.

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

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. KeyCorp reduced 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 report on Wednesday, August 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.75.

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.