Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Amalgamated Bank

Amalgamated Bank lifted its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 387.5% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,774 shares of the company's stock after purchasing an additional 7,769 shares during the quarter. Amalgamated Bank's holdings in Inspire Medical Systems were worth $2,063,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC lifted its holdings in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock valued at $56,530,000 after acquiring an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock valued at $105,433,000 after acquiring an additional 192,238 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock worth $98,754,000 after acquiring an additional 156,893 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock worth $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Finally, Tri Locum Partners LP raised its position in shares of Inspire Medical Systems by 465.5% during the 2nd quarter. Tri Locum Partners LP now owns 133,276 shares of the company's stock worth $17,836,000 after purchasing an additional 109,710 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 4,861 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. 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 4,861 shares of the stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Performance

NYSE:INSP traded down $12.70 during trading hours on Tuesday, reaching $189.34. The stock had a trading volume of 309,810 shares, compared to its average volume of 599,165. The stock has a market cap of $5.67 billion, a P/E ratio of 188.82 and a beta of 1.36. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a 50 day simple moving average of $203.06 and a 200 day simple moving average of $178.92.

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

Analyst Ratings Changes

INSP has been the subject of several recent analyst reports. Stifel Nicolaus reaffirmed a "hold" rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an "overweight" rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Leerink Partners lifted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Finally, Truist Financial reissued a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $227.75.

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.