Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.8% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 132,391 shares of the company's stock after selling 9,706 shares during the quarter. Riverbridge Partners LLC owned 0.44% of Inspire Medical Systems worth $21,087,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in INSP. Dragoneer Investment Group LLC acquired a new stake in Inspire Medical Systems during the 4th quarter worth approximately $161,486,000. Congress Asset Management Co. lifted its holdings in Inspire Medical Systems by 3,943.6% during the 1st quarter. Congress Asset Management Co. now owns 307,555 shares of the company's stock worth $48,987,000 after buying an additional 299,949 shares in the last quarter. Marshall Wace LLP lifted its holdings in Inspire Medical Systems by 1,775.3% during the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company's stock worth $51,375,000 after buying an additional 262,353 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Inspire Medical Systems during the 4th quarter worth approximately $47,604,000. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in Inspire Medical Systems by 869.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 210,160 shares of the company's stock worth $38,959,000 after buying an additional 188,492 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 0.8%

Shares of NYSE INSP traded down $1.03 during mid-day trading on Monday, reaching $129.88. The company had a trading volume of 601,893 shares, compared to its average volume of 566,174. The firm has a 50 day simple moving average of $145.25 and a two-hundred day simple moving average of $166.88. The stock has a market cap of $3.83 billion, a P/E ratio of 59.85, a PEG ratio of 2.00 and a beta of 1.29. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00.

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

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 2.30% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on INSP shares. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research 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 report on Monday, April 21st. Royal Bank Of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Robert W. Baird increased 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 report on Tuesday, May 6th. Finally, Morgan Stanley dropped their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $211.91.

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.