Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Barclays PLC

Barclays PLC decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 51.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,525 shares of the company's stock after selling 44,680 shares during the quarter. Barclays PLC owned approximately 0.14% of Inspire Medical Systems worth $8,975,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of INSP. State Street Corp lifted its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after buying an additional 459,990 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock valued at $67,402,000 after buying an additional 289,075 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock valued at $56,530,000 after buying an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock valued at $105,433,000 after buying an additional 192,238 shares during the last quarter. Finally, AQR Capital Management LLC lifted its position 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 valued at $31,028,000 after buying an additional 140,090 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Price Performance

Shares of INSP stock traded down $3.74 during trading hours on Wednesday, reaching $186.97. 716,119 shares of the stock were exchanged, compared to its average volume of 586,261. The business's fifty day moving average is $193.62 and its two-hundred day moving average is $179.30. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a market capitalization of $5.60 billion, a P/E ratio of 174.74 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates 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 firm 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 earned ($0.29) earnings per share. The business's quarterly revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Leerink Partners upped 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 research report on Tuesday, September 10th. Truist Financial reaffirmed a "buy" rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Royal Bank of Canada reiterated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler reiterated an "overweight" rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Bank of America upgraded shares of 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. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $233.58.

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.