Polar Asset Management Partners Inc. Purchases New Position in 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 its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 5,100 shares of the company's stock, valued at approximately $945,000.

Several other hedge funds also recently modified their holdings of INSP. Smartleaf Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after acquiring an additional 229 shares during the last quarter. Merit Financial Group LLC bought a new stake in Inspire Medical Systems during the fourth quarter worth approximately $313,000. Janney Montgomery Scott LLC boosted its position in Inspire Medical Systems by 248.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after purchasing an additional 3,427 shares during the period. Jennison Associates LLC acquired a new position in Inspire Medical Systems during the fourth quarter valued at approximately $8,821,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in shares of Inspire Medical Systems in the fourth quarter valued at approximately $292,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction dated 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 transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.10% of the company's stock.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded down $1.65 during mid-day trading on Friday, hitting $144.31. The company had a trading volume of 56,374 shares, compared to its average volume of 555,991. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00. The firm has a market cap of $4.26 billion, a P/E ratio of 83.70, a PEG ratio of 2.86 and a beta of 1.39. The business's 50-day simple moving average is $154.30 and its 200-day simple moving average is $175.65.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $194.89 million. During the same quarter in the prior year, the firm posted ($0.34) EPS. The company's revenue for the quarter was up 22.7% on a year-over-year basis. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. Morgan Stanley lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. cut their price objective on 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. Finally, Robert W. Baird increased their target price on 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 investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $211.91.

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.