Braidwell LP Trims Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Braidwell LP lowered its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 37.0% during the third quarter, HoldingsChannel.com reports. The firm owned 238,911 shares of the company’s stock after selling 140,532 shares during the period. Inspire Medical Systems comprises approximately 1.4% of Braidwell LP’s holdings, making the stock its 28th biggest holding. Braidwell LP’s holdings in Inspire Medical Systems were worth $50,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. SouthState Corp acquired a new stake in Inspire Medical Systems during the 2nd quarter valued at $27,000. Farther Finance Advisors LLC lifted its position in Inspire Medical Systems by 1,158.3% in the 3rd 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 last quarter. GAMMA Investing LLC raised its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after buying an additional 151 shares in the last quarter. Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Inspire Medical Systems in the 2nd quarter worth approximately $53,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $194.00 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm’s 50 day moving average price is $198.36 and its two-hundred day moving average price is $175.98. The firm has a market cap of $5.81 billion, a P/E ratio of 181.31 and a beta of 1.36.

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

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems 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 sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on INSP. Piper Sandler reissued an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Leerink Partners lifted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. KeyCorp reduced their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird upped their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $233.58.

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.