Congress Asset Management Co. Acquires 2,077 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Congress Asset Management Co. grew its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 37.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,606 shares of the company's stock after acquiring an additional 2,077 shares during the period. Congress Asset Management Co.'s holdings in Inspire Medical Systems were worth $1,410,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock worth $1,461,000 after buying an additional 79 shares during the last quarter. Signaturefd LLC lifted its stake in shares of Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after buying an additional 85 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock worth $68,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Inspire Medical Systems by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company's stock worth $2,688,000 after buying an additional 100 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Inspire Medical Systems by 30.9% during the 3rd quarter. Quarry LP now owns 449 shares of the company's stock worth $95,000 after buying an additional 106 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on INSP shares. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Morgan Stanley cut their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Finally, Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and an average price target of $228.82.

Inspire Medical Systems Stock Down 0.9 %

Shares of NYSE:INSP traded down $1.52 during midday trading on Friday, hitting $176.87. The stock had a trading volume of 436,322 shares, compared to its average volume of 609,751. The company's 50-day moving average price is $188.14 and its 200-day moving average price is $192.70. The company has a market capitalization of $5.25 billion, a P/E ratio of 102.24, a price-to-earnings-growth ratio of 2.87 and a beta of 1.32. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

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, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred 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 sale, the insider now directly owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred 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 sale, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is currently owned by corporate insiders.

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.