Arrowstreet Capital Limited Partnership Buys 33,202 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Arrowstreet Capital Limited Partnership grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 1,587.1% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 35,294 shares of the company's stock after acquiring an additional 33,202 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.12% of Inspire Medical Systems worth $6,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after acquiring an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in Inspire Medical Systems during the 4th quarter valued at $80,419,000. Raymond James Financial Inc. acquired a new position in shares of Inspire Medical Systems during the 4th quarter valued at $47,604,000. Riverbridge Partners LLC bought a new stake in shares of Inspire Medical Systems in the 4th quarter worth $26,342,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after buying an additional 137,483 shares during the period. Institutional investors own 94.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Truist Financial lowered their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus price target of $226.70.

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Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $2.52 during midday trading on Friday, reaching $147.10. The stock had a trading volume of 335,977 shares, compared to its average volume of 590,787. The firm's fifty day simple moving average is $169.67 and its two-hundred day simple moving average is $185.27. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 85.03, a PEG ratio of 2.86 and a beta of 1.39.

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 the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company's stock, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% 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.