Jacobs Levy Equity Management Inc. Raises Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Jacobs Levy Equity Management Inc. lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 869.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 210,160 shares of the company's stock after purchasing an additional 188,492 shares during the period. Jacobs Levy Equity Management Inc. owned 0.70% of Inspire Medical Systems worth $38,959,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Dragoneer Investment Group LLC purchased a new position in Inspire Medical Systems in the fourth quarter valued at about $161,486,000. TimesSquare Capital Management LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Marshall Wace LLP raised its stake in shares of 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 acquiring an additional 262,353 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $47,604,000. Finally, Riverbridge Partners LLC purchased a new stake in Inspire Medical Systems during the fourth quarter valued at approximately $26,342,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on 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. Truist Financial dropped their target price on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their target price on Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. KeyCorp dropped 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. Finally, Robert W. Baird boosted their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.91.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 360 shares of the business'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 sale, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.30% of the stock is owned by insiders.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded down $6.31 during mid-day trading on Thursday, hitting $149.51. The stock had a trading volume of 620,721 shares, compared to its average volume of 563,438. The company has a 50 day moving average of $156.45 and a two-hundred day moving average of $177.54. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00. The firm has a market cap of $4.41 billion, a PE ratio of 86.42, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (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 for the quarter, compared to the consensus estimate of $194.89 million. During the same period in the prior year, the firm earned ($0.34) EPS. The firm's revenue was up 22.7% on a year-over-year basis. Equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

About Inspire Medical Systems

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.