Los Angeles Capital Management LLC Purchases Shares of 42,979 Inspire Medical Systems, Inc. (NYSE:INSP)

Los Angeles Capital Management LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 42,979 shares of the company's stock, valued at approximately $9,071,000. Los Angeles Capital Management LLC owned 0.14% of Inspire Medical Systems as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. SouthState Corp bought a new stake in Inspire Medical Systems in the 2nd quarter valued at about $27,000. Farther Finance Advisors LLC raised its holdings in shares of Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after acquiring an additional 139 shares in the last quarter. GAMMA Investing LLC grew its stake in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after purchasing an additional 151 shares during the period. Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after acquiring an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems in the second quarter worth $53,000. Institutional investors own 94.91% of the company's stock.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of the business's stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction 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 transaction, the director now owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randy Ban sold 4,861 shares of the firm's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company's stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,692 shares of company stock worth $1,099,207. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Leerink Partners lifted their price objective on shares of 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. Stifel Nicolaus restated a "hold" rating and set a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reaffirmed a "buy" rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Piper Sandler restated an "overweight" rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $227.75.

Inspire Medical Systems Stock Down 7.3 %

Shares of INSP stock traded down $14.65 during mid-day trading on Tuesday, reaching $187.39. The company's stock had a trading volume of 369,418 shares, compared to its average volume of 599,388. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a market capitalization of $5.62 billion, a PE ratio of 188.82 and a beta of 1.36. The company's 50 day simple moving average is $203.06 and its 200-day simple moving average is $178.92.

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 company had revenue of $203.20 million during the quarter, compared to analysts' expectations 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 quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.29) earnings per share. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal 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.