Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 954.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 319,364 shares of the company's stock after buying an additional 289,075 shares during the quarter. Point72 Asset Management L.P. owned 1.07% of Inspire Medical Systems worth $67,402,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its holdings in shares of Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company's stock worth $138,000 after acquiring an additional 72 shares during the period. Amalgamated Bank boosted its position in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company's stock worth $268,000 after purchasing an additional 79 shares in the last quarter. Signaturefd LLC grew its holdings in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after purchasing an additional 85 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company's stock valued at $2,836,000 after purchasing an additional 92 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC increased its position in shares of Inspire Medical Systems by 0.8% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company's stock valued at $2,075,000 after buying an additional 125 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INSP shares. Stifel Nicolaus reissued a "hold" rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Leerink Partners lifted their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a research report on Tuesday, September 10th. KeyCorp lowered their target price 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, Truist Financial reissued a "buy" rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Price Performance

NYSE:INSP traded down $5.32 during mid-day trading on Thursday, reaching $191.60. The company's stock had a trading volume of 348,402 shares, compared to its average volume of 592,178. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The company's fifty day simple moving average is $196.54 and its two-hundred day simple moving average is $177.16. The stock has a market cap of $5.74 billion, a P/E ratio of 179.07 and a beta of 1.31.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. Inspire Medical Systems's revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.29) earnings per share. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

About Inspire Medical Systems

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.