State of New Jersey Common Pension Fund D Decreases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

State of New Jersey Common Pension Fund D lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 2.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,779 shares of the company’s stock after selling 252 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Inspire Medical Systems were worth $2,486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of INSP. Farther Finance Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its stake in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. SouthState Corp purchased a new stake in Inspire Medical Systems during the second quarter valued at about $27,000. Signaturefd LLC grew its position in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INSP has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Robert W. Baird upped their target price 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 issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. KeyCorp reduced their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $182.08 on Thursday. The firm has a market cap of $5.46 billion, a price-to-earnings ratio of 170.17 and a beta of 1.36. The business has a 50-day simple moving average of $203.34 and a two-hundred day simple moving average of $178.59. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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 net margin of 4.37% and a return on equity of 5.30%. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the previous year, the company earned ($0.29) earnings per share. The firm’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Activity

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

Inspire Medical Systems 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.