Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 12.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,668 shares of the company's stock after selling 3,047 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Inspire Medical Systems worth $4,573,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Janus Henderson Group PLC boosted its position in Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after acquiring an additional 27,374 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Inspire Medical Systems in the third quarter worth $1,345,000. Cinctive Capital Management LP purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at $234,000. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems during the 3rd quarter valued at $30,000. Finally, Bellevue Group AG raised its holdings in Inspire Medical Systems by 56.4% during the 3rd quarter. Bellevue Group AG now owns 195,080 shares of the company's stock valued at $41,172,000 after buying an additional 70,356 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The shares were 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. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on INSP shares. Leerink Partners lifted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 10th. Piper Sandler reiterated 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. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Finally, Truist Financial reiterated a "buy" rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus price target of $233.58.

Inspire Medical Systems Price Performance

Shares of INSP stock traded up $1.43 on Friday, hitting $193.03. The stock had a trading volume of 297,753 shares, compared to its average volume of 470,554. The firm has a market capitalization of $5.79 billion, a P/E ratio of 180.40 and a beta of 1.31. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company's 50 day moving average price is $196.36 and its 200-day moving average price is $177.42.

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, topping 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 firm had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same quarter in the prior year, the business posted ($0.29) earnings per share. Inspire Medical Systems's revenue was up 32.6% compared to the same quarter last year. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.