Bamco Inc. NY Sells 8,000 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bamco Inc. NY trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 339,300 shares of the company's stock after selling 8,000 shares during the period. Bamco Inc. NY owned approximately 1.13% of Inspire Medical Systems worth $71,609,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in 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 worth $56,530,000 after acquiring an additional 238,034 shares during the period. Bank of New York Mellon Corp grew 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 worth $105,433,000 after acquiring an additional 192,238 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock worth $31,028,000 after purchasing an additional 140,090 shares during the period. Principal Financial Group Inc. grew its position in shares of Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after buying an additional 137,483 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its position in shares of Inspire Medical Systems by 82.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company's stock worth $51,269,000 after purchasing an additional 117,819 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

INSP has been the topic of several recent research reports. Leerink Partners lifted their price objective on shares of 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. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reiterated an "overweight" rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Robert W. Baird increased 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 report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $233.58.

Inspire Medical Systems Price Performance

INSP traded down $2.84 on Monday, hitting $189.92. The company had a trading volume of 306,454 shares, compared to its average volume of 594,278. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 180.15 and a beta of 1.36. The company's fifty day moving average price is $197.96 and its 200 day moving average price is $176.45. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

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

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the 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 completion of the sale, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is currently owned by corporate insiders.

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.