Man Group plc Has $32.61 Million Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Man Group plc increased its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 112.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 175,926 shares of the company's stock after purchasing an additional 93,214 shares during the quarter. Man Group plc owned about 0.59% of Inspire Medical Systems worth $32,613,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of INSP. Dragoneer Investment Group LLC bought a new stake in Inspire Medical Systems during the fourth quarter valued at approximately $161,486,000. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Marshall Wace LLP lifted its stake in Inspire Medical Systems by 1,775.3% in the fourth 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 during the period. Raymond James Financial Inc. bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $47,604,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in shares of 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 acquiring an additional 188,492 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director now directly owns 24,046 shares of the company's stock, valued at approximately $3,847,360. The trade was a 1.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 4.10% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on INSP. Truist Financial lowered their price objective 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. Robert W. Baird upped their price objective 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. KeyCorp reduced their price objective 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. Morgan Stanley decreased 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. Finally, Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Stock Down 0.6%

Inspire Medical Systems stock traded down $0.85 during midday trading on Wednesday, hitting $149.21. The company's stock had a trading volume of 82,944 shares, compared to its average volume of 557,937. The stock's 50-day moving average price is $155.03 and its 200-day moving average price is $176.18. The company has a market capitalization of $4.40 billion, a PE ratio of 86.32, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. 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 previous year, the firm posted ($0.34) earnings per share. The firm's revenue was up 22.7% on a year-over-year basis. As a group, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current 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.