Congress Asset Management Co. Increases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Congress Asset Management Co. boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 3,943.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 307,555 shares of the company's stock after purchasing an additional 299,949 shares during the period. Congress Asset Management Co. owned about 1.03% of Inspire Medical Systems worth $48,987,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its holdings in shares of Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after acquiring an additional 3,427 shares during the period. WCM Investment Management LLC purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $10,291,000. Louisiana State Employees Retirement System grew its holdings in shares of Inspire Medical Systems by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company's stock worth $2,688,000 after acquiring an additional 100 shares during the period. Allspring Global Investments Holdings LLC grew its holdings 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 during the period. Finally, Van ECK Associates Corp grew its holdings in shares of Inspire Medical Systems by 52.7% during the 4th quarter. Van ECK Associates Corp now owns 1,113 shares of the company's stock worth $206,000 after acquiring an additional 384 shares during the period. Hedge funds and other institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on INSP. KeyCorp reduced their target price on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Stifel Nicolaus reduced their target price 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. Piper Sandler reduced their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Wells Fargo & Company reduced their target price 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. Finally, Robert W. Baird upped their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

Insider Activity at Inspire Medical Systems

In related news, 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 transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Stock Down 0.1%

Shares of INSP opened at $135.76 on Friday. The business's 50 day moving average price is $149.10 and its 200-day moving average price is $171.84. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $225.00. The stock has a market cap of $4.00 billion, a P/E ratio of 78.47, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly 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 firm had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. During the same period in the previous year, the firm posted ($0.34) EPS. The business's revenue for the quarter was up 22.7% compared to the same quarter last year. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current 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.

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