New York State Common Retirement Fund Trims Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New York State Common Retirement Fund decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 171,259 shares of the company’s stock after selling 15,867 shares during the quarter. New York State Common Retirement Fund’s holdings in Inspire Medical Systems were worth $36,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in INSP. Bank of New York Mellon Corp raised its holdings in Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares in the last quarter. William Blair Investment Management LLC raised its stake in Inspire Medical Systems by 1.8% in the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after buying an additional 13,602 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after acquiring an additional 238,034 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSP. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Finally, Leerink Partners boosted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $219.58.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 over the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 2.2 %

NYSE:INSP opened at $190.71 on Friday. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 1,059.50 and a beta of 1.36. The company’s 50 day moving average price is $201.08 and its 200-day moving average price is $180.71. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The business had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. During the same period last year, the business posted ($0.41) EPS. The company’s revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 earnings per share 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.