LMR Partners LLP Cuts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

LMR Partners LLP cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 20.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,360 shares of the company's stock after selling 3,696 shares during the period. LMR Partners LLP's holdings in Inspire Medical Systems were worth $3,031,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of INSP. Russell Investments Group Ltd. raised its position in shares of Inspire Medical Systems by 98.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company's stock worth $6,859,000 after purchasing an additional 15,877 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock valued at $98,754,000 after acquiring an additional 156,893 shares during the last quarter. Tidal Investments LLC purchased a new position in shares of Inspire Medical Systems in the first quarter valued at approximately $1,151,000. AQR Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock worth $31,028,000 after acquiring an additional 140,090 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of Inspire Medical Systems by 27.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company's stock worth $8,699,000 after purchasing an additional 8,625 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INSP. Stifel Nicolaus restated a "hold" rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial reaffirmed a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Piper Sandler reissued an "overweight" rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Robert W. Baird upped their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $227.75.

Inspire Medical Systems Trading Up 0.4 %

INSP traded up $0.76 on Tuesday, hitting $176.04. The company had a trading volume of 236,674 shares, compared to its average volume of 599,841. The company's fifty day moving average price is $201.34 and its 200 day moving average price is $176.63. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market cap of $5.28 billion, a P/E ratio of 163.83 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business's revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.29) EPS. On average, analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 4.10% 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.