Connor Clark & Lunn Investment Management Ltd. Has $32.92 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. raised its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 21.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 177,588 shares of the company’s stock after acquiring an additional 31,344 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.59% of Inspire Medical Systems worth $32,921,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. lifted its stake in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the third quarter valued at $30,000. Farther Finance Advisors LLC lifted its stake 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 valued at $32,000 after acquiring an additional 139 shares during the last quarter. AlphaQuest LLC lifted its stake in 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 during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in Inspire Medical Systems by 178.9% in 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. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 5.7 %

Shares of Inspire Medical Systems stock opened at $163.01 on Thursday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a 50-day simple moving average of $186.26 and a two-hundred day simple moving average of $192.40. The stock has a market capitalization of $4.84 billion, a price-to-earnings ratio of 94.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share 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%. On average, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems 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 value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s 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 completion of the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This 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 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

INSP has been the subject of a number of recent analyst reports. Truist Financial cut their price target on shares of 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. KeyCorp restated an “overweight” rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Robert W. Baird cut their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $228.82.

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.