Connor Clark & Lunn Investment Management Ltd. Increases Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 21.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 177,588 shares of the company's stock after purchasing an additional 31,344 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.59% of Inspire Medical Systems worth $32,921,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSP. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 221.2% during the fourth quarter. Farther Finance Advisors LLC now owns 485 shares of the company's stock valued at $90,000 after buying an additional 334 shares during the period. HighTower Advisors LLC grew its position in shares of Inspire Medical Systems by 46.9% during the 4th quarter. HighTower Advisors LLC now owns 2,150 shares of the company's stock valued at $399,000 after acquiring an additional 686 shares during the period. AGF Management Ltd. purchased a new stake in shares of Inspire Medical Systems in the 4th quarter worth $2,374,000. Wealthfront Advisers LLC purchased a new position in Inspire Medical Systems during the fourth quarter valued at $1,762,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Inspire Medical Systems by 13.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,662 shares of the company's stock valued at $1,420,000 after purchasing an additional 898 shares during the period. Hedge funds and other institutional investors own 94.91% of the company's stock.

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Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Piper Sandler reduced their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Robert W. Baird cut their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. KeyCorp reissued an "overweight" rating and set a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Finally, Wells Fargo & Company lowered their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $228.82.

Inspire Medical Systems Trading Up 2.2 %

Shares of NYSE INSP traded up $3.42 during mid-day trading on Friday, reaching $162.26. The company had a trading volume of 426,704 shares, compared to its average volume of 581,106. The stock has a market cap of $4.81 billion, a price-to-earnings ratio of 93.79, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The business's 50-day moving average is $184.92 and its 200-day moving average is $191.98.

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

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock valued at $4,806,530 in the last ninety days. Corporate insiders own 4.10% of the company's stock.

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.