Versor Investments LP Sells 2,497 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Versor Investments LP decreased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 31.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,511 shares of the company's stock after selling 2,497 shares during the quarter. Versor Investments LP's holdings in Inspire Medical Systems were worth $1,163,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in INSP. Lisanti Capital Growth LLC bought a new position in shares of Inspire Medical Systems in the third quarter worth $5,617,000. Los Angeles Capital Management LLC bought a new position in shares of Inspire Medical Systems in the third quarter worth $9,071,000. Crossmark Global Holdings Inc. increased its position in shares of Inspire Medical Systems by 38.2% in the third quarter. Crossmark Global Holdings Inc. now owns 2,422 shares of the company's stock worth $511,000 after purchasing an additional 670 shares during the period. Capital Performance Advisors LLP bought a new position in Inspire Medical Systems in the third quarter valued at about $136,000. Finally, AIA Group Ltd increased its holdings in shares of Inspire Medical Systems by 5.0% during the third quarter. AIA Group Ltd now owns 12,237 shares of the company's stock worth $2,583,000 after buying an additional 582 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Insider Buying and Selling

In other news, insider Randy Ban sold 4,861 shares of the business's stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company's stock, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INSP. Leerink Partners increased their price objective 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. 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 research report on Monday, September 30th. Robert W. Baird upped their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. KeyCorp cut their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Finally, Piper Sandler reissued an "overweight" rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $227.75.

Inspire Medical Systems Stock Performance

INSP stock traded down $11.31 during trading on Tuesday, hitting $190.73. 639,708 shares of the company's stock traded hands, compared to its average volume of 600,672. The business has a fifty day simple moving average of $203.06 and a 200 day simple moving average of $178.92. The stock has a market capitalization of $5.72 billion, a price-to-earnings ratio of 188.82 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.

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

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.