Envestnet Asset Management Inc. Buys 8,484 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Envestnet Asset Management Inc. boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 33.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,151 shares of the company's stock after buying an additional 8,484 shares during the period. Envestnet Asset Management Inc. owned 0.11% of Inspire Medical Systems worth $5,440,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank boosted its stake in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after buying an additional 121 shares in the last quarter. Parallel Advisors LLC boosted its stake in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after buying an additional 164 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 55 shares in the last quarter. Quadrant Capital Group LLC lifted 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 buying an additional 125 shares during the period. Finally, GAMMA Investing LLC lifted its position in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after buying an additional 411 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the stock in a transaction 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 owned 24,046 shares of the company's stock, valued at $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSP. JPMorgan Chase & Co. dropped their price target on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird upped their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. KeyCorp dropped their price target on Inspire Medical Systems from $216.00 to $197.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen lowered Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday. Finally, 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 note on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $208.55.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded up $1.86 during trading hours on Monday, hitting $130.72. 389,841 shares of the company's stock were exchanged, compared to its average volume of 582,684. Inspire Medical Systems, Inc. has a 1-year low of $124.45 and a 1-year high of $225.00. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 60.24, a PEG ratio of 1.97 and a beta of 1.25. The company's 50-day moving average price is $133.25 and its 200-day moving average price is $155.92.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating the consensus estimate of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The company's revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.34) EPS. On average, research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.