Renaissance Technologies LLC Increases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Renaissance Technologies LLC lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 36.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 136,700 shares of the company's stock after buying an additional 36,200 shares during the period. Renaissance Technologies LLC owned about 0.46% of Inspire Medical Systems worth $25,341,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of INSP. Mutual of America Capital Management LLC grew its position in 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 acquiring an additional 55 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock valued at $1,461,000 after buying an additional 79 shares during the last quarter. Xponance Inc. boosted its position in Inspire Medical Systems by 2.2% during the 4th quarter. Xponance Inc. now owns 3,824 shares of the company's stock valued at $709,000 after buying an additional 82 shares during the period. Harbour Investments Inc. grew its holdings in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after acquiring an additional 99 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Inspire Medical Systems by 37.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after acquiring an additional 100 shares during the period. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Price Performance

INSP stock traded up $3.51 on Friday, reaching $150.42. 605,382 shares of the company traded hands, compared to its average volume of 586,245. The firm has a fifty day simple moving average of $166.82 and a 200-day simple moving average of $183.81. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The company has a market cap of $4.48 billion, a P/E ratio of 86.95, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Piper Sandler cut their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Truist Financial decreased their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Finally, Robert W. Baird reduced their target price on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $222.20.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

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.