AGF Management Ltd. Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

AGF Management Ltd. bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,806 shares of the company's stock, valued at approximately $2,374,000.

A number of other institutional investors have also made changes to their positions in the business. First Horizon Advisors Inc. boosted its position in Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $30,000. Farther Finance Advisors LLC boosted its holdings in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after buying an additional 139 shares during the period. AlphaQuest LLC grew its stake in Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after buying an additional 291 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after acquiring an additional 229 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, 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 a total of 26,225 shares of company stock valued at $4,806,530 in the last 90 days. 4.10% of the stock is owned by corporate insiders.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Robert W. Baird lowered their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. KeyCorp reissued an "overweight" rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus price target of $228.82.

Inspire Medical Systems Trading Up 2.7 %

INSP stock traded up $4.43 during mid-day trading on Monday, hitting $166.59. The stock had a trading volume of 299,184 shares, compared to its average volume of 580,922. The firm has a fifty day simple moving average of $184.92 and a 200 day simple moving average of $192.07. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a market capitalization of $4.94 billion, a P/E ratio of 96.29, a P/E/G ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (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 analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal 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.