Impax Asset Management Group plc Sells 10,000 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Impax Asset Management Group plc trimmed its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 16.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,000 shares of the company's stock after selling 10,000 shares during the quarter. Impax Asset Management Group plc owned about 0.17% of Inspire Medical Systems worth $10,552,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. SouthState Corp bought a new stake in Inspire Medical Systems during the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC increased its stake in Inspire Medical Systems by 1,158.3% during the 3rd 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% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Quarry LP increased its stake in 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 purchasing an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in Inspire Medical Systems during the 2nd quarter valued at about $53,000. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded up $12.63 on Wednesday, hitting $211.63. 1,043,771 shares of the company traded hands, compared to its average volume of 601,802. The stock has a market capitalization of $6.31 billion, a P/E ratio of 185.99 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The business has a 50-day simple moving average of $201.37 and a 200 day simple moving average of $179.72.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $197.59 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company's revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the business posted ($0.29) earnings per share. Research analysts expect that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

Insider Activity

In other news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction 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 owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the business's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 over the last quarter. Insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on INSP. Piper Sandler restated an "overweight" rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday. Leerink Partners raised their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Truist Financial reaffirmed a "buy" rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday. Finally, Wells Fargo & Company raised their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $227.75.

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.