Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Point72 Hong Kong Ltd

Point72 Hong Kong Ltd trimmed its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 87.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,733 shares of the company's stock after selling 11,978 shares during the quarter. Point72 Hong Kong Ltd's holdings in Inspire Medical Systems were worth $366,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SouthState Corp acquired a new position in Inspire Medical Systems during the 2nd quarter worth approximately $27,000. True Wealth Design LLC acquired a new position in Inspire Medical Systems during the third quarter worth $30,000. Farther Finance Advisors LLC raised its position in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 151 shares in the last quarter. Finally, Quarry LP grew 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 worth $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Up 1.9 %

Shares of Inspire Medical Systems stock traded up $3.54 during mid-day trading on Tuesday, hitting $192.06. 396,424 shares of the stock were exchanged, compared to its average volume of 594,198. The stock has a market capitalization of $5.76 billion, a price-to-earnings ratio of 179.50 and a beta of 1.31. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a 50-day simple moving average of $197.08 and a 200 day simple moving average of $176.92.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same period in the previous year, the firm posted ($0.29) EPS. Inspire Medical Systems's revenue was up 32.6% on a year-over-year basis. Equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Stifel Nicolaus reiterated a "hold" rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an "overweight" rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Leerink Partners upped their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Finally, KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and an average 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.