Lisanti Capital Growth LLC Grows Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Lisanti Capital Growth LLC raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 75.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,480 shares of the company's stock after buying an additional 4,925 shares during the quarter. Lisanti Capital Growth LLC's holdings in Inspire Medical Systems were worth $2,335,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Wellington Management Group LLP boosted its holdings in Inspire Medical Systems by 72.8% in the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company's stock valued at $193,870,000 after purchasing an additional 411,480 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Inspire Medical Systems during the fourth quarter worth about $1,271,000. Gilliland Jeter Wealth Management LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter worth $3,369,000. OPTIMAS CAPITAL Ltd purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $3,861,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $1,929,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In other news, Director Jerry C. Griffin sold 554 shares of the business's stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the transaction, the director now directly owns 9,744 shares in the company, valued at approximately $1,929,799.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the sale, the insider now directly owns 3,029 shares in the company, valued at $561,485.73. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the company's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the transaction, the director now owns 9,744 shares in the company, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock worth $15,664,278 over the last three months. Insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

INSP has been the topic of a number of recent research reports. Royal Bank of Canada started coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an "outperform" rating and a $285.00 price objective for the company. Truist Financial restated a "buy" rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Jefferies Financial Group initiated coverage on Inspire Medical Systems in a research report on Friday, January 19th. They set a "buy" rating and a $245.00 price objective for the company. Mizuho reissued a "buy" rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Finally, KeyCorp initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $272.20.

Inspire Medical Systems Trading Down 2.0 %

Shares of INSP stock traded down $5.09 during trading hours on Tuesday, hitting $245.87. 1,052,194 shares of the company were exchanged, compared to its average volume of 521,209. The business has a 50 day moving average of $214.73 and a two-hundred day moving average of $189.93. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00. The company has a market capitalization of $7.45 billion, a PE ratio of -331.93 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.53. The firm had revenue of $192.51 million during the quarter, compared to analysts' expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business's quarterly revenue was up 39.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.10 earnings per share. On average, research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 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.

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