Congress Asset Management Co. Acquires 299,949 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Congress Asset Management Co. lifted its position in 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 fund owned 307,555 shares of the company's stock after buying an additional 299,949 shares during the period. Congress Asset Management Co. owned approximately 1.03% of Inspire Medical Systems worth $48,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after buying an additional 38,219 shares in the last quarter. Dragoneer Investment Group LLC acquired a new stake in Inspire Medical Systems during the fourth quarter worth about $161,486,000. Invesco Ltd. boosted its position in Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock worth $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Inspire Medical Systems by 12.9% during the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after purchasing an additional 64,703 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock valued at $90,188,000 after purchasing an additional 2,687 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Down 0.1%

Inspire Medical Systems stock traded down $0.09 during trading on Tuesday, reaching $136.56. The stock had a trading volume of 471,098 shares, compared to its average volume of 561,951. The business has a 50 day moving average price of $148.38 and a 200 day moving average price of $171.04. The stock has a market cap of $4.03 billion, a PE ratio of 78.93, a P/E/G ratio of 2.86 and a beta of 1.28. 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 released its quarterly earnings results on Monday, May 5th. The company reported $0.10 earnings per share (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 the consensus estimate of $194.89 million. During the same quarter last year, the business posted ($0.34) EPS. The firm's quarterly revenue was up 22.7% compared to the same quarter last year. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on INSP. Robert W. Baird raised their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Piper Sandler dropped their price objective 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. KeyCorp reduced their target price on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research note 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 for the company in a report on Monday, April 21st. Finally, Wells Fargo & Company reduced their price objective on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

About Inspire Medical Systems

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.