Dragoneer Investment Group LLC Acquires Shares of 871,110 Inspire Medical Systems, Inc. (NYSE:INSP)

Dragoneer Investment Group LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 871,110 shares of the company’s stock, valued at approximately $161,486,000. Inspire Medical Systems comprises about 2.8% of Dragoneer Investment Group LLC’s portfolio, making the stock its 14th largest holding. Dragoneer Investment Group LLC owned 2.91% of Inspire Medical Systems at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INSP. First Horizon Advisors Inc. lifted its holdings in shares of Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares during the period. Huntington National Bank raised its position in Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after buying an additional 121 shares during the last quarter. Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after acquiring an additional 99 shares during the period. AlphaQuest LLC boosted its holdings in shares of Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after acquiring an additional 291 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in shares of Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock worth $61,000 after acquiring an additional 125 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the sale, the director now owns 24,046 shares of the company’s stock, valued at $3,847,360. The trade was a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction on 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 completion of the transaction, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,527 shares of company stock valued at $4,851,660 over the last quarter. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $161.93 on Wednesday. The firm’s 50-day moving average is $159.46 and its two-hundred day moving average is $179.13. The company has a market capitalization of $4.82 billion, a PE ratio of 93.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $256.11.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. The firm had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Inspire Medical Systems’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.34) EPS. On average, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Ratings Changes

INSP has been the topic of a number of analyst reports. Truist Financial lowered their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a report on Tuesday. Piper Sandler reduced their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $211.91.

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.