Brown Capital Management LLC Has $73.97 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Brown Capital Management LLC cut its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 14.1% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 350,461 shares of the company's stock after selling 57,386 shares during the period. Inspire Medical Systems comprises approximately 1.6% of Brown Capital Management LLC's holdings, making the stock its 22nd largest position. Brown Capital Management LLC owned approximately 1.17% of Inspire Medical Systems worth $73,965,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the stock. SouthState Corp bought a new stake in Inspire Medical Systems during the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC increased 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 purchasing an additional 139 shares during the period. GAMMA Investing LLC raised its position in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after buying an additional 151 shares during the last quarter. Quarry LP lifted 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 valued at $46,000 after buying an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new stake in Inspire Medical Systems during the second quarter worth about $53,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Trading Up 0.8 %

Inspire Medical Systems stock traded up $1.42 during mid-day trading on Thursday, hitting $186.19. The stock had a trading volume of 406,368 shares, compared to its average volume of 598,866. The stock has a 50-day simple moving average of $200.19 and a two-hundred day simple moving average of $176.17. The stock has a market capitalization of $5.58 billion, a PE ratio of 172.78 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.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate 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 company had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same quarter in the previous year, the company earned ($0.29) EPS. Inspire Medical Systems's revenue was up 32.6% on a year-over-year basis. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred 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 in the company, valued at $5,090,800. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. 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. Leerink Partners increased 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 note on Tuesday, September 10th. Royal Bank of Canada reiterated an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating for the company in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company lifted their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.58.

About Inspire Medical Systems

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.