Monimus Capital Management LP Makes New $5.10 Million Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

Monimus Capital Management LP bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 27,504 shares of the company's stock, valued at approximately $5,099,000. Inspire Medical Systems comprises about 4.8% of Monimus Capital Management LP's portfolio, making the stock its 5th biggest position. Monimus Capital Management LP owned approximately 0.09% of Inspire Medical Systems at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in INSP. Wasatch Advisors LP grew its position in shares of Inspire Medical Systems by 1.6% in the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock valued at $279,318,000 after purchasing an additional 20,481 shares during the last quarter. State Street Corp lifted its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after purchasing an additional 459,990 shares during the period. Janus Henderson Group PLC increased its holdings in Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after buying an additional 27,374 shares during the period. Geode Capital Management LLC grew its stake in shares of Inspire Medical Systems by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock valued at $102,102,000 after purchasing an additional 3,128 shares during the period. Finally, TimesSquare Capital Management LLC bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at $80,419,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

Several research firms have weighed in on INSP. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Morgan Stanley dropped their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus lowered their price target on 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. KeyCorp restated an "overweight" rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Piper Sandler cut their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $228.82.

Inspire Medical Systems Stock Performance

NYSE:INSP traded up $0.24 during mid-day trading on Wednesday, reaching $162.60. 401,939 shares of the company's stock were exchanged, compared to its average volume of 581,099. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The business's fifty day simple moving average is $183.11 and its two-hundred day simple moving average is $191.83. The firm has a market capitalization of $4.82 billion, a PE ratio of 93.99, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems 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 transaction, the insider now directly owns 7,259 shares of the company's stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock worth $4,806,530 in the last 90 days. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Company 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.