Algert Global LLC Buys 26,971 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Algert Global LLC lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 145.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,563 shares of the company’s stock after acquiring an additional 26,971 shares during the period. Algert Global LLC owned approximately 0.15% of Inspire Medical Systems worth $9,616,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in INSP. Bessemer Group Inc. increased its holdings in Inspire Medical Systems by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after purchasing an additional 100 shares in the last quarter. 1832 Asset Management L.P. acquired a new position in shares of Inspire Medical Systems during the first quarter worth about $1,740,000. Lazard Asset Management LLC grew its holdings in shares of Inspire Medical Systems by 85.0% during the first quarter. Lazard Asset Management LLC now owns 63,196 shares of the company’s stock worth $13,573,000 after buying an additional 29,039 shares in the last quarter. BOKF NA grew its holdings in shares of Inspire Medical Systems by 149.0% during the first quarter. BOKF NA now owns 12,260 shares of the company’s stock worth $2,570,000 after buying an additional 7,337 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after buying an additional 156,893 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on INSP. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Piper Sandler restated an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Robert W. Baird lifted their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $233.58.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Stock Up 1.4 %

INSP opened at $188.73 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The business has a 50 day moving average of $199.53 and a 200-day moving average of $175.81. The stock has a market cap of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter last year, the firm posted ($0.29) EPS. The company’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

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.