Connor Clark & Lunn Investment Management Ltd. Purchases 65,147 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 80.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 146,244 shares of the company's stock after acquiring an additional 65,147 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Inspire Medical Systems worth $30,865,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. SouthState Corp purchased a new position in Inspire Medical Systems during the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC increased its stake in Inspire Medical Systems by 559.3% in the 3rd 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 period. Quarry LP boosted its stake in shares of Inspire Medical Systems by 105.4% during the 2nd 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. purchased a new position in shares of Inspire Medical Systems during the 2nd quarter valued at $53,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on INSP. Piper Sandler restated an "overweight" rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Robert W. Baird boosted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and raised their target price for the company from $220.00 to $255.00 in a report on Wednesday. Finally, Leerink Partners upped their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a report on Tuesday, September 10th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of "Moderate Buy" and an average price target of $233.58.

Inspire Medical Systems Stock Down 0.2 %

NYSE:INSP traded down $0.41 on Thursday, reaching $184.36. The stock had a trading volume of 27,774 shares, compared to its average volume of 597,100. The company has a market capitalization of $5.53 billion, a P/E ratio of 172.78 and a beta of 1.36. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The stock has a fifty day moving average price of $200.19 and a 200-day moving average price of $176.17.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during 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%. The business's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.29) EPS. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Company 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.