Janus Henderson Group PLC Purchases 64,703 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Janus Henderson Group PLC raised its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 12.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 567,312 shares of the company's stock after purchasing an additional 64,703 shares during the quarter. Janus Henderson Group PLC owned 1.89% of Inspire Medical Systems worth $105,173,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock worth $606,259,000 after purchasing an additional 38,219 shares during the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth about $161,486,000. Invesco Ltd. increased its holdings in shares of Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock worth $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Geode Capital Management LLC grew its position in Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after purchasing an additional 2,687 shares during the period. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $80,419,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded up $2.97 during trading on Friday, hitting $152.66. 390,694 shares of the company were exchanged, compared to its average volume of 561,896. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00. The business's 50-day simple moving average is $155.86 and its 200 day simple moving average is $177.23. The firm has a market capitalization of $4.50 billion, a price-to-earnings ratio of 88.24, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $201.32 million during 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%. Inspire Medical Systems's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.34) earnings per share. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 transaction of $57,600.00. Following the sale, the director now 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 filing with the SEC, which can be accessed through this link. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Royal Bank of Canada lowered their target price on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Truist Financial reduced their price target on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. 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 note on Tuesday, May 6th. Finally, Robert W. Baird boosted their target price on shares of 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has an average rating of "Moderate Buy" and a consensus target price 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.