Public Sector Pension Investment Board Purchases New Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Public Sector Pension Investment Board acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 63,300 shares of the company's stock, valued at approximately $13,359,000. Public Sector Pension Investment Board owned 0.21% of Inspire Medical Systems at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the business. Van ECK Associates Corp boosted its stake in shares of Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company's stock worth $138,000 after acquiring an additional 72 shares in the last quarter. Amalgamated Bank raised its holdings in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company's stock worth $268,000 after purchasing an additional 79 shares during the last quarter. Signaturefd LLC boosted its position in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after purchasing an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company's stock valued at $2,836,000 after purchasing an additional 92 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of Inspire Medical Systems by 0.8% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company's stock valued at $2,075,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $1.33 during trading on Friday, hitting $192.67. The company's stock had a trading volume of 261,447 shares, compared to its average volume of 595,601. The stock's fifty day moving average is $197.96 and its 200 day moving average is $176.21. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 180.07 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the firm posted ($0.29) EPS. The company's revenue was up 32.6% on a year-over-year basis. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were 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 owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

INSP has been the topic of several recent research reports. Truist Financial reiterated a "buy" rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Wells Fargo & Company increased their price target 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. 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 report on Tuesday, November 5th. Leerink Partners upped their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research note on Tuesday, September 10th. Finally, Stifel Nicolaus reissued a "hold" rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus price target of $233.58.

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.