Janus Henderson Group PLC Purchases 27,374 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Janus Henderson Group PLC grew its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 502,609 shares of the company's stock after purchasing an additional 27,374 shares during the period. Janus Henderson Group PLC owned approximately 1.68% of Inspire Medical Systems worth $106,075,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Wasatch Advisors LP boosted its holdings in shares of Inspire Medical Systems by 1.6% in the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock worth $279,318,000 after acquiring an additional 20,481 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock worth $105,433,000 after buying an additional 192,238 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Inspire Medical Systems by 1.8% during the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company's stock worth $103,104,000 after buying an additional 13,602 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Inspire Medical Systems by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 281,165 shares of the company's stock worth $59,340,000 after buying an additional 11,939 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock worth $56,530,000 after buying an additional 238,034 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on INSP shares. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and increased their price target for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Robert W. Baird increased their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Price Performance

INSP stock traded down $5.32 during trading hours on Thursday, reaching $191.60. 348,402 shares of the stock were exchanged, compared to its average volume of 592,178. The firm's 50-day moving average is $196.54 and its 200-day moving average is $177.16. The company has a market cap of $5.74 billion, a price-to-earnings ratio of 179.07 and a beta of 1.31. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $197.59 million. During the same period in the prior year, the business posted ($0.29) EPS. The company's quarterly revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share 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.