Clearbridge Investments LLC Invests $1.58 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Clearbridge Investments LLC purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm purchased 11,805 shares of the company's stock, valued at approximately $1,580,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SouthState Corp purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter worth about $27,000. Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in Inspire Medical Systems in the 2nd quarter valued at approximately $53,000. Van ECK Associates Corp increased its position in Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company's stock worth $138,000 after buying an additional 72 shares in the last quarter. Finally, RiverPark Advisors LLC raised its holdings in shares of Inspire Medical Systems by 360.1% in the first quarter. RiverPark Advisors LLC now owns 773 shares of the company's stock worth $166,000 after acquiring an additional 605 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 4.8 %

NYSE:INSP traded up $9.93 on Friday, hitting $214.93. 417,209 shares of the stock were exchanged, compared to its average volume of 616,807. The stock has a market cap of $6.39 billion, a PE ratio of -390.78 and a beta of 1.34. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock has a fifty day moving average of $190.48 and a 200-day moving average of $182.88.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. During the same quarter last year, the firm posted ($0.41) earnings per share. Inspire Medical Systems's revenue for the quarter was up 29.6% compared to the same quarter last year. As a group, analysts predict that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business'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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other 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 sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. 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 is available at this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,692 shares of company stock worth $1,099,207. Corporate insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on INSP shares. 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. Leerink Partners raised their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research note on Tuesday, September 10th. Morgan Stanley cut 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 research report on Monday, July 15th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Finally, KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating for the company in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $216.62.

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.