Polar Asset Management Partners Inc. Purchases Shares of 5,100 Inspire Medical Systems, Inc. (NYSE:INSP)

Polar Asset Management Partners Inc. bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 5,100 shares of the company's stock, valued at approximately $945,000.

Several other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its stake in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after buying an additional 229 shares during the last quarter. Janney Montgomery Scott LLC grew its stake in shares of Inspire Medical Systems by 248.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after buying an additional 3,427 shares during the last quarter. Jennison Associates LLC purchased a new stake in Inspire Medical Systems during the 4th quarter valued at $8,821,000. China Universal Asset Management Co. Ltd. purchased a new stake in Inspire Medical Systems during the 4th quarter valued at $292,000. Finally, Nisa Investment Advisors LLC boosted its stake in Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the firm's 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 now directly owns 24,046 shares of the company's stock, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have commented on the company. KeyCorp cut their target price on 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. Royal Bank of Canada cut their target price on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus cut their target price on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Wells Fargo & Company cut their target price on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. cut their target price on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded down $0.21 during midday trading on Friday, hitting $138.04. 613,013 shares of the stock traded hands, compared to its average volume of 561,898. The firm has a 50-day moving average of $151.44 and a two-hundred day moving average of $173.14. The firm has a market capitalization of $4.07 billion, a P/E ratio of 79.79, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year 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 for the quarter, beating the consensus estimate of ($0.23) by $0.33. The firm had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The company's revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS. Equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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.