Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC lowered its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 20.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 24,904 shares of the company's stock after selling 6,431 shares during the period. Oak Ridge Investments LLC owned about 0.08% of Inspire Medical Systems worth $4,617,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wasatch Advisors LP raised its position in Inspire Medical Systems by 1.6% during the third quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock valued at $279,318,000 after acquiring an additional 20,481 shares in the last quarter. State Street Corp increased its holdings in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of Inspire Medical Systems by 5.8% during the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after purchasing an additional 27,374 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Inspire Medical Systems by 0.7% during the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock worth $102,102,000 after buying an additional 3,128 shares in the last quarter. Finally, Point72 Asset Management L.P. grew its position in Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock valued at $67,402,000 after buying an additional 289,075 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP traded up $4.14 during midday trading on Friday, hitting $177.97. The company's stock had a trading volume of 513,574 shares, compared to its average volume of 440,801. The company has a market cap of $5.33 billion, a P/E ratio of 166.33 and a beta of 1.32. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The business's 50 day simple moving average is $189.18 and its 200 day simple moving average is $185.41.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million for the quarter, compared to analyst estimates 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 revenue was up 32.6% on a year-over-year basis. During the same period last year, the company posted ($0.29) EPS. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on INSP shares. Piper Sandler reiterated an "overweight" rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their price target for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company raised their price objective on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Robert W. Baird upped their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $233.58.

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.