CenterBook Partners LP Buys Shares of 6,299 Inspire Medical Systems, Inc. (NYSE:INSP)

CenterBook Partners LP purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 6,299 shares of the company's stock, valued at approximately $1,168,000.

A number of other large investors also recently modified their holdings of INSP. Vanguard Group Inc. grew its stake in Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after purchasing an additional 38,219 shares in the last quarter. State Street Corp lifted its stake 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 acquiring an additional 459,990 shares during the last quarter. Invesco Ltd. lifted its stake in Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after purchasing an additional 99,030 shares during the last quarter. Geode Capital Management LLC grew its holdings in Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after purchasing an additional 2,687 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in Inspire Medical Systems during the fourth quarter worth approximately $80,419,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 2.1 %

NYSE INSP traded down $3.11 during trading on Tuesday, reaching $146.59. The company's stock had a trading volume of 273,201 shares, compared to its average volume of 544,398. The firm has a 50 day moving average price of $168.82 and a 200 day moving average price of $184.75. 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 $4.36 billion, a price-to-earnings ratio of 84.73, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

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Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the company's 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 completion of the sale, the insider now owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. KeyCorp reaffirmed an "overweight" rating and set a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Robert W. Baird dropped their price objective on shares of 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. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada decreased their price target on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $222.20.

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.