6,374 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Purchased by Holocene Advisors LP

Holocene Advisors LP acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,374 shares of the company's stock, valued at approximately $1,345,000.

Other large investors have also added to or reduced their stakes in the company. SouthState Corp purchased a new position in shares of Inspire Medical Systems in the second quarter worth $27,000. True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Bank of America upgraded Inspire Medical Systems from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Leerink Partners upped their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research report on Tuesday, September 10th. Robert W. Baird upped their price objective 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. Wells Fargo & Company upped their price objective on 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. Finally, Piper Sandler reiterated an "overweight" rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $233.58.

Inspire Medical Systems Stock Up 0.7 %

NYSE:INSP traded up $1.43 during mid-day trading on Friday, hitting $193.03. 297,753 shares of the company traded hands, compared to its average volume of 470,554. The stock's fifty day moving average price is $196.36 and its 200-day moving average price is $177.59. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released 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 analyst estimates of $197.59 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. Inspire Medical Systems's revenue for the quarter was up 32.6% on a year-over-year basis. Equities analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction dated 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 transaction, the director now owns 23,140 shares of the company's stock, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate 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.