Rhenman & Partners Asset Management AB Boosts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Rhenman & Partners Asset Management AB raised its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 150,041 shares of the company's stock after acquiring an additional 28,041 shares during the period. Inspire Medical Systems accounts for about 2.9% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 7th biggest holding. Rhenman & Partners Asset Management AB owned about 0.50% of Inspire Medical Systems worth $27,815,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock worth $606,259,000 after purchasing an additional 38,219 shares in the last quarter. State Street Corp boosted its stake in 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. Geode Capital Management LLC increased its position in shares of Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock valued at $90,188,000 after purchasing an additional 2,687 shares during the period. TimesSquare Capital Management LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $80,419,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock valued at $61,709,000 after buying an additional 58,447 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

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Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on INSP. Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company cut their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Robert W. Baird reduced their target price on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th. Finally, KeyCorp reissued an "overweight" rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $226.70.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $10.29 during trading on Thursday, hitting $143.53. 212,132 shares of the company were exchanged, compared to its average volume of 550,855. The business's 50-day simple moving average is $171.63 and its 200 day simple moving average is $186.14. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 82.96, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share 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.