Lisanti Capital Growth LLC Takes $766,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Lisanti Capital Growth LLC acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,810 shares of the company's stock, valued at approximately $766,000.

Other institutional investors have also modified their holdings of the company. Bessemer Group Inc. raised its holdings in Inspire Medical Systems by 1.7% in the 1st quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock valued at $1,145,000 after acquiring an additional 123 shares during the last quarter. Oppenheimer Asset Management Inc. grew its stake in shares of Inspire Medical Systems by 16.7% in the first quarter. Oppenheimer Asset Management Inc. now owns 15,206 shares of the company's stock valued at $2,422,000 after buying an additional 2,179 shares in the last quarter. Exchange Traded Concepts LLC grew its position in Inspire Medical Systems by 2,028.4% in the 1st quarter. Exchange Traded Concepts LLC now owns 10,706 shares of the company's stock valued at $1,705,000 after acquiring an additional 10,203 shares in the last quarter. Azzad Asset Management Inc. ADV acquired a new position in shares of Inspire Medical Systems in the first quarter valued at approximately $1,748,000. Finally, Fifth Third Bancorp increased its position in shares of Inspire Medical Systems by 66.2% during the first quarter. Fifth Third Bancorp now owns 2,698 shares of the company's stock worth $430,000 after acquiring an additional 1,075 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 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 sale, the director directly owned 24,046 shares of the company's stock, 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of 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. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus lowered their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. dropped their target price on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Stock Performance

NYSE INSP traded down $3.13 during mid-day trading on Monday, reaching $129.28. 722,583 shares of the stock were exchanged, compared to its average volume of 550,235. The stock has a market capitalization of $3.81 billion, a PE ratio of 61.02, a PEG ratio of 2.03 and a beta of 1.29. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $225.00. The business's fifty day simple moving average is $143.90 and its 200 day simple moving average is $165.24.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. During the same quarter in the previous year, the business earned ($0.34) earnings per share. The business's revenue for the quarter was up 22.7% on a year-over-year basis. On average, 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.