Riverbridge Partners LLC Sells 9,706 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Riverbridge Partners LLC reduced its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 132,391 shares of the company's stock after selling 9,706 shares during the period. Riverbridge Partners LLC owned 0.44% of Inspire Medical Systems worth $21,087,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in Inspire Medical Systems by 178.9% during the fourth 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 period. Mutual of America Capital Management LLC lifted its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock worth $842,000 after purchasing an additional 55 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Inspire Medical Systems by 11.3% during the 4th quarter. Jones Financial Companies Lllp now owns 2,075 shares of the company's stock worth $385,000 after purchasing an additional 210 shares during the last quarter. Fifth Third Bancorp boosted its stake in Inspire Medical Systems by 66.2% during the 1st quarter. Fifth Third Bancorp now owns 2,698 shares of the company's stock valued at $430,000 after purchasing an additional 1,075 shares during the period. Finally, Parallel Advisors LLC grew its holdings in Inspire Medical Systems by 356.5% in the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after buying an additional 164 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems 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 directly owns 24,046 shares of the company's stock, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Stifel Nicolaus cut their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. KeyCorp cut their target price 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. Royal Bank Of Canada decreased their price target 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. Morgan Stanley decreased their price target 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. Finally, JPMorgan Chase & Co. decreased their price target on shares of 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. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.91.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $129.95 on Friday. The company has a 50-day moving average of $145.97 and a 200-day moving average of $168.12. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 59.88, a PEG ratio of 1.98 and a beta of 1.28. 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 released its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The firm's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current 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.

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