Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Quadrature Capital Ltd

Quadrature Capital Ltd lessened its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 60.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 5,250 shares of the company's stock after selling 8,007 shares during the period. Quadrature Capital Ltd's holdings in Inspire Medical Systems were worth $1,108,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of INSP. Van ECK Associates Corp boosted its position in shares of Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company's stock valued at $138,000 after buying an additional 72 shares during the period. Amalgamated Bank lifted its stake in shares of Inspire Medical Systems by 4.1% during the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company's stock worth $268,000 after acquiring an additional 79 shares during the last quarter. Signaturefd LLC boosted its holdings in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after acquiring an additional 85 shares during the period. The Manufacturers Life Insurance Company grew its position in Inspire Medical Systems by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company's stock valued at $2,836,000 after acquiring an additional 92 shares during the last quarter. Finally, Quarry LP increased its stake in Inspire Medical Systems by 30.9% in the third quarter. Quarry LP now owns 449 shares of the company's stock worth $95,000 after purchasing an additional 106 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction dated Monday, September 9th. The shares were 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 $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler reissued an "overweight" rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research note on Tuesday, September 10th. Finally, Truist Financial reissued a "buy" rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.58.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $1.43 during trading hours on Friday, reaching $193.03. The stock had a trading volume of 297,753 shares, compared to its average volume of 470,554. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company has a market cap of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31. The business's 50 day moving average price is $196.36 and its 200-day moving average price is $177.59.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced 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 analysts' expectations of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business's revenue was up 32.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.29) EPS. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal 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.