QRG Capital Management Inc. Buys New Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

QRG Capital Management Inc. purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,119 shares of the company’s stock, valued at approximately $236,000.

Several other institutional investors have also bought and sold shares of the business. SouthState Corp bought a new position in shares of Inspire Medical Systems in the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC raised its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC lifted its stake in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP boosted its holdings in shares of 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 purchasing an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems during the 2nd quarter valued at approximately $53,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 5.6 %

Shares of NYSE:INSP opened at $190.73 on Wednesday. The business’s 50 day moving average is $203.06 and its 200 day moving average is $178.92. The stock has a market cap of $5.72 billion, a P/E ratio of 178.25 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INSP shares. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, KeyCorp reduced their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $227.75.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,692 shares of company stock valued at $1,099,207. Company insiders own 4.10% of the company’s stock.

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.