Beck Bode LLC Purchases New Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Beck Bode LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 34,711 shares of the company's stock, valued at approximately $6,435,000. Beck Bode LLC owned approximately 0.12% of Inspire Medical Systems at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of INSP. First Horizon Advisors Inc. increased its holdings 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 buying an additional 124 shares in the last quarter. Huntington National Bank grew its holdings in shares of Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after acquiring an additional 121 shares during the period. Harbour Investments Inc. increased its stake in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. AlphaQuest LLC raised its holdings in Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after purchasing an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock worth $61,000 after purchasing an additional 125 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Inspire Medical Systems

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

Analyst Upgrades and Downgrades

INSP has been the subject of a number of research analyst reports. Royal Bank of Canada dropped their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research report on Tuesday. Stifel Nicolaus lowered their price target on shares of 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 cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, Truist Financial reduced their target price on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.91.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $0.39 during trading on Friday, hitting $152.40. The company's stock had a trading volume of 139,307 shares, compared to its average volume of 534,559. The stock has a market capitalization of $4.49 billion, a price-to-earnings ratio of 88.09, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $225.00. The stock's fifty day moving average is $158.28 and its 200 day moving average is $178.63.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.10 earnings per share 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 for the quarter, compared to analyst estimates of $194.89 million. During the same period last year, the company posted ($0.34) EPS. The business's quarterly revenue was up 22.7% on a year-over-year basis. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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.