New York State Common Retirement Fund Cuts Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New York State Common Retirement Fund lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 8.5% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 171,259 shares of the company's stock after selling 15,867 shares during the period. New York State Common Retirement Fund owned approximately 0.57% of Inspire Medical Systems worth $36,144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp grew its holdings in Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock valued at $105,433,000 after purchasing an additional 192,238 shares during the last quarter. William Blair Investment Management LLC grew its stake in Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company's stock valued at $103,104,000 after acquiring an additional 13,602 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Inspire Medical Systems by 51.8% during the 1st 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 in the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 position in Inspire Medical Systems by 152.7% during 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. Hedge funds and other institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 800 shares of the firm'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 sale, the director now owns 23,140 shares of the company's stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Randy Ban sold 4,861 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock worth $1,099,207 over the last ninety days. Corporate insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on INSP. Leerink Partners boosted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Robert W. Baird lowered their price target on Inspire Medical Systems from $220.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Truist Financial reaffirmed a "buy" rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, KeyCorp decreased their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $219.58.

Inspire Medical Systems Trading Down 2.2 %

Shares of INSP traded down $4.33 on Friday, reaching $190.71. 747,953 shares of the company's stock were exchanged, compared to its average volume of 360,115. The stock has a market capitalization of $5.69 billion, a P/E ratio of 1,059.50 and a beta of 1.36. The business has a 50 day moving average price of $201.08 and a two-hundred day moving average price of $180.27. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

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

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.