AQR Capital Management LLC Trims Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

AQR Capital Management LLC trimmed its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 438,844 shares of the company's stock after selling 7,567 shares during the quarter. AQR Capital Management LLC owned about 1.46% of Inspire Medical Systems worth $81,353,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. Northern Trust Corp boosted its stake in Inspire Medical Systems by 40.2% in the 4th quarter. Northern Trust Corp now owns 244,249 shares of the company's stock valued at $45,279,000 after purchasing an additional 69,995 shares during the period. Nebula Research & Development LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter valued at about $548,000. Voya Investment Management LLC increased its position in Inspire Medical Systems by 1.7% during the fourth quarter. Voya Investment Management LLC now owns 156,575 shares of the company's stock worth $29,026,000 after acquiring an additional 2,639 shares during the period. Fuller & Thaler Asset Management Inc. boosted its holdings in Inspire Medical Systems by 8.0% in the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 232,388 shares of the company's stock valued at $43,080,000 after purchasing an additional 17,294 shares during the period. Finally, Dark Forest Capital Management LP acquired a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $267,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $2.33 during mid-day trading on Tuesday, reaching $156.41. The company's stock had a trading volume of 499,785 shares, compared to its average volume of 584,739. The company has a market capitalization of $4.65 billion, a P/E ratio of 89.91, a PEG ratio of 2.86 and a beta of 1.39. The firm's fifty day moving average price is $159.91 and its two-hundred day moving average price is $179.25. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $256.11.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. During the same quarter last year, the company earned ($0.34) EPS. The firm's revenue was up 22.7% compared to the same quarter last year. On average, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on INSP shares. Stifel Nicolaus decreased their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. Piper Sandler decreased their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. KeyCorp dropped their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada decreased their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Truist Financial lowered 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 report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of "Moderate Buy" and an average price target of $211.91.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the sale, the director now owns 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,527 shares of company stock valued at $4,851,660. 4.10% of the stock is currently owned by company insiders.

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.