New York State Teachers Retirement System Makes New Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

New York State Teachers Retirement System purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 8,094 shares of the company's stock, valued at approximately $1,708,000.

A number of other large investors also recently bought and sold shares of the business. SouthState Corp bought a new position in shares of Inspire Medical Systems during the second quarter valued at $27,000. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP increased its stake in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company's stock valued at $46,000 after purchasing an additional 176 shares in the last quarter. Daiwa Securities Group Inc. purchased a new position in Inspire Medical Systems in the second quarter worth about $53,000. Finally, Signaturefd LLC lifted its stake in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after buying an additional 85 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 1.9 %

INSP stock traded down $3.85 during midday trading on Friday, reaching $196.62. 443,173 shares of the company's stock traded hands, compared to its average volume of 493,924. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market cap of $5.89 billion, a P/E ratio of 183.76 and a beta of 1.36. The stock's 50-day moving average is $202.62 and its 200 day moving average is $179.89.

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 the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems's revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.29) EPS. As a group, research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company's stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction dated Monday, September 9th. The stock was 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 owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred 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 sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on INSP shares. Morgan Stanley decreased their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an "overweight" rating for the company in a report on Monday, July 15th. Truist Financial restated a "buy" rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research report on Tuesday, September 10th. Stifel Nicolaus reissued a "hold" rating and issued a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday. Finally, Robert W. Baird raised their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $227.75.

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.