Versor Investments LP Has $518,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Versor Investments LP cut its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 49.3% during the fourth quarter, HoldingsChannel reports. The fund owned 2,796 shares of the company’s stock after selling 2,715 shares during the quarter. Versor Investments LP’s holdings in Inspire Medical Systems were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of INSP. Creative Planning raised its position in Inspire Medical Systems by 25.8% during the third quarter. Creative Planning now owns 3,240 shares of the company’s stock valued at $684,000 after acquiring an additional 665 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of Inspire Medical Systems by 153.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,800 shares of the company’s stock valued at $1,646,000 after purchasing an additional 4,721 shares in the last quarter. New York State Teachers Retirement System acquired a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at $1,708,000. Congress Asset Management Co. lifted its stake in shares of Inspire Medical Systems by 30.5% in the 3rd quarter. Congress Asset Management Co. now owns 5,529 shares of the company’s stock valued at $1,167,000 after purchasing an additional 1,292 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after purchasing an additional 139 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INSP has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. KeyCorp reissued an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Trading Up 0.8 %

Shares of Inspire Medical Systems stock opened at $185.56 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company’s fifty day simple moving average is $187.87 and its 200-day simple moving average is $193.10. The company has a market cap of $5.51 billion, a price-to-earnings ratio of 107.26, a PEG ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents 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 26,225 shares of company stock valued at $4,806,530 over the last three months. 4.10% of the stock is owned by corporate insiders.

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.