Pilgrim Partners Asia Pte Ltd Buys New Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Pilgrim Partners Asia Pte Ltd purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, HoldingsChannel reports. The firm purchased 560 shares of the company’s stock, valued at approximately $104,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Inspire Medical Systems by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock worth $606,259,000 after purchasing an additional 38,219 shares in the last quarter. State Street Corp grew its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after buying an additional 459,990 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after buying an additional 2,687 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $80,419,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Inspire Medical Systems by 21.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock worth $61,709,000 after acquiring an additional 58,447 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $141.49 on Friday. The company has a market capitalization of $4.21 billion, a PE ratio of 81.78, a PEG ratio of 2.86 and a beta of 1.39. The company’s 50 day moving average price is $175.94 and its 200 day moving average price is $188.34. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating 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, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on INSP shares. Morgan Stanley cut their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. KeyCorp restated an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Robert W. Baird decreased 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 report on Tuesday, February 11th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Finally, Truist Financial decreased their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $226.70.

Insiders Place Their Bets

In other news, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on 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 sale, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. 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 three months. Insiders own 4.10% of the company’s stock.

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.