Beck Bode LLC Invests $6.44 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Beck Bode LLC purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 34,711 shares of the company's stock, valued at approximately $6,435,000. Beck Bode LLC owned 0.12% of Inspire Medical Systems at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. TimesSquare Capital Management LLC acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at about $80,419,000. Marshall Wace LLP lifted its position in Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock worth $51,375,000 after buying an additional 262,353 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $47,604,000. Riverbridge Partners LLC acquired a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $26,342,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after acquiring an additional 137,483 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INSP has been the subject of a number of research reports. KeyCorp reduced their price objective on 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. Piper Sandler reduced their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Stifel Nicolaus dropped their price objective on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Robert W. Baird reduced 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 research note on Tuesday, February 11th. Finally, Truist Financial dropped their price target on shares of 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $218.90.

Inspire Medical Systems Trading Up 1.3 %

NYSE:INSP opened at $159.89 on Friday. The firm has a market capitalization of $4.76 billion, a PE ratio of 92.42, a PEG 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 $256.11. The firm's fifty day simple moving average is $160.65 and its 200 day simple moving average is $179.67.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of Inspire Medical Systems 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 of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction 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 business's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares in the company, valued at $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 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.

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