abrdn plc Boosts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

abrdn plc lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 16.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,361 shares of the company's stock after purchasing an additional 16,881 shares during the period. abrdn plc owned about 0.41% of Inspire Medical Systems worth $25,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Bank of New York Mellon Corp boosted its stake 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 purchasing an additional 192,238 shares during the last quarter. William Blair Investment Management LLC lifted its stake in shares of Inspire Medical Systems by 1.8% in the second 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. Price T Rowe Associates Inc. MD boosted its position in 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 worth $98,754,000 after acquiring an additional 156,893 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 valued at $56,530,000 after acquiring an additional 238,034 shares in the last quarter. Finally, AQR Capital Management LLC raised its holdings in Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock valued at $31,028,000 after acquiring an additional 140,090 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Stock Down 2.2 %

INSP stock traded down $4.37 during mid-day trading on Friday, hitting $190.67. 747,942 shares of the company were exchanged, compared to its average volume of 594,146. 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 $5.69 billion, a P/E ratio of 1,059.28 and a beta of 1.34. The business has a fifty day simple moving average of $201.08 and a 200-day simple moving average of $181.00.

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

Analyst Ratings Changes

INSP has been the topic of several recent research reports. Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a report on Tuesday, September 10th. Royal Bank of Canada restated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Robert W. Baird cut their target price on Inspire Medical Systems from $220.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, August 7th. KeyCorp reduced their price target on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley dropped 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $219.58.

Insider Activity at Inspire Medical Systems

In related news, 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 transaction, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the 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 directly owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 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 completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems 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.