Frontier Capital Management Co. LLC Has $77.65 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Frontier Capital Management Co. LLC raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 6.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 418,854 shares of the company’s stock after buying an additional 23,838 shares during the period. Inspire Medical Systems comprises about 0.7% of Frontier Capital Management Co. LLC’s portfolio, making the stock its 29th biggest position. Frontier Capital Management Co. LLC owned 1.40% of Inspire Medical Systems worth $77,647,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after acquiring an additional 229 shares during the last quarter. Merit Financial Group LLC acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at about $313,000. Jennison Associates LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $8,821,000. Janney Montgomery Scott LLC grew its stake in Inspire Medical Systems by 248.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock worth $891,000 after purchasing an additional 3,427 shares during the period. Finally, China Universal Asset Management Co. Ltd. bought a new stake in Inspire Medical Systems in the fourth quarter worth approximately $292,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

INSP has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday. Stifel Nicolaus dropped their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Truist Financial reduced their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price target 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.91.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred 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 sale, the insider now directly 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. In the last ninety days, insiders sold 26,527 shares of company stock valued at $4,851,660. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 3.1 %

INSP stock opened at $156.87 on Thursday. The firm has a market capitalization of $4.67 billion, a PE ratio of 90.68, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00. The stock’s 50 day moving average is $158.89 and its 200-day moving average is $178.98.

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

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.