Clearbridge Investments LLC Grows Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Clearbridge Investments LLC raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 24.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 16,349 shares of the company's stock after buying an additional 3,231 shares during the quarter. Clearbridge Investments LLC owned about 0.05% of Inspire Medical Systems worth $3,031,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. State Street Corp grew its holdings in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after purchasing an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Point72 Asset Management L.P. increased its holdings in shares of Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after buying an additional 289,075 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $47,604,000. Finally, Riverbridge Partners LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth $26,342,000. 94.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on INSP. Stifel Nicolaus reduced their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird decreased their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Truist Financial cut their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research report on Tuesday, February 11th. KeyCorp reiterated an "overweight" rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.70.

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Insider Activity

In other news, CTO John Rondoni sold 583 shares of the business's stock in a transaction that occurred 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 directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction that occurred on Thursday, February 13th. The shares were 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 of the company's stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Inspire Medical Systems Price Performance

INSP traded down $1.28 on Tuesday, hitting $148.41. The company had a trading volume of 87,370 shares, compared to its average volume of 547,610. The stock has a fifty day simple moving average of $175.25 and a 200-day simple moving average of $187.63. The firm has a market capitalization of $4.42 billion, a P/E ratio of 85.58, a P/E/G ratio of 2.86 and a beta of 1.39. 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 announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (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%. Equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 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.