Monimus Capital Management LP Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Monimus Capital Management LP purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 27,504 shares of the company’s stock, valued at approximately $5,099,000. Inspire Medical Systems comprises about 4.8% of Monimus Capital Management LP’s investment portfolio, making the stock its 5th biggest holding.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. True Wealth Design LLC purchased a new stake in Inspire Medical Systems in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC increased its holdings 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 worth $32,000 after acquiring an additional 139 shares in the last quarter. AlphaQuest LLC increased its holdings in Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after acquiring an additional 291 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after acquiring an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $162.26 on Friday. The company has a market capitalization of $4.81 billion, a P/E ratio of 93.79, a P/E/G ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The stock has a 50 day moving average price of $184.92 and a 200-day moving average price of $191.98.

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

Insider Buying and Selling

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company reduced 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 report on Tuesday, February 11th. Truist Financial dropped their price target on 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. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Robert W. Baird dropped their price target on 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, KeyCorp restated an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

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.