Braidwell LP Acquires 54,499 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Braidwell LP grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 22.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 293,410 shares of the company's stock after buying an additional 54,499 shares during the period. Inspire Medical Systems makes up about 1.6% of Braidwell LP's holdings, making the stock its 24th biggest holding. Braidwell LP owned 0.98% of Inspire Medical Systems worth $54,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. Captrust Financial Advisors raised its position in Inspire Medical Systems by 2.0% in the 4th quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock worth $562,000 after purchasing an additional 59 shares during the period. Bamco Inc. NY grew its position in Inspire Medical Systems by 2.5% during the 4th quarter. Bamco Inc. NY now owns 347,800 shares of the company's stock worth $64,475,000 after acquiring an additional 8,500 shares during the last quarter. Beck Bode LLC bought a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $6,435,000. BNP Paribas Financial Markets lifted its position in Inspire Medical Systems by 69.6% in the fourth quarter. BNP Paribas Financial Markets now owns 7,991 shares of the company's stock valued at $1,481,000 after purchasing an additional 3,280 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Inspire Medical Systems in the fourth quarter worth approximately $738,000. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Down 0.8 %

Shares of NYSE INSP traded down $1.21 during midday trading on Friday, hitting $151.58. The stock had a trading volume of 309,473 shares, compared to its average volume of 566,632. The company has a market cap of $4.47 billion, a P/E ratio of 87.62, a PEG ratio of 2.86 and a beta of 1.39. The business's 50 day moving average is $157.70 and its 200-day moving average is $178.21. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates 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 analyst estimates of $194.89 million. During the same quarter last year, the company earned ($0.34) EPS. The company's quarterly revenue was up 22.7% compared to the same quarter last year. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In related news, CTO John Rondoni sold 583 shares of the business's stock in a transaction that occurred 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 completion of the sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. This represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,527 shares of company stock valued at $4,851,660 in the last 90 days. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Wells Fargo & Company reduced their price target on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a report on Tuesday, May 6th. Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on 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, Piper Sandler cut their price target 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. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

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.