New York State Teachers Retirement System Raises Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New York State Teachers Retirement System grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 132.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,390 shares of the company's stock after purchasing an additional 12,196 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Inspire Medical Systems worth $3,407,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dragoneer Investment Group LLC purchased a new position in Inspire Medical Systems during the fourth quarter valued at approximately $161,486,000. Congress Asset Management Co. grew its stake in Inspire Medical Systems by 3,943.6% during the first quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock valued at $48,987,000 after acquiring an additional 299,949 shares in the last quarter. Marshall Wace LLP grew its stake in Inspire Medical Systems by 1,775.3% during the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock valued at $51,375,000 after acquiring an additional 262,353 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Inspire Medical Systems during the fourth quarter valued at approximately $47,604,000. Finally, Jacobs Levy Equity Management Inc. grew its stake in Inspire Medical Systems by 869.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock valued at $38,959,000 after acquiring an additional 188,492 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Trading Up 5.3%

Shares of INSP traded up $6.73 during mid-day trading on Tuesday, reaching $133.64. The company's stock had a trading volume of 968,027 shares, compared to its average volume of 541,556. The stock has a market cap of $3.94 billion, a PE ratio of 61.59, a P/E/G ratio of 1.97 and a beta of 1.25. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $225.00. The company's fifty day moving average price is $141.04 and its two-hundred day moving average price is $162.77.

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

Wall Street Analysts Forecast Growth

Several brokerages recently commented on INSP. Robert W. Baird boosted 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. KeyCorp reduced their price objective on shares of 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. Wells Fargo & Company reduced their price objective on shares of 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. Royal Bank Of Canada dropped their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.30% of the stock is owned by insiders.

Inspire Medical Systems 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.