State of Tennessee Department of Treasury Purchases 4,684 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

State of Tennessee Department of Treasury grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 49.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,229 shares of the company's stock after buying an additional 4,684 shares during the period. State of Tennessee Department of Treasury's holdings in Inspire Medical Systems were worth $2,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of INSP. Vanguard Group Inc. boosted its holdings in 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 acquiring an additional 38,219 shares in the last quarter. Invesco Ltd. raised its position in shares of Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock worth $147,021,000 after purchasing an additional 99,030 shares during the last quarter. Geode Capital Management LLC boosted its stake in Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after purchasing an additional 2,687 shares in the last quarter. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems during the 4th quarter valued at about $80,419,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Inspire Medical Systems by 21.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock valued at $61,709,000 after purchasing an additional 58,447 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on INSP. Royal Bank of Canada decreased their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Robert W. Baird dropped their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock 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 for the company in a research report on Tuesday, February 11th. Finally, Wells Fargo & Company dropped their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $218.90.

Inspire Medical Systems Trading Up 0.5 %

INSP opened at $158.97 on Monday. The company's 50 day moving average is $162.86 and its 200 day moving average is $181.08. The company has a market cap of $4.73 billion, a price-to-earnings ratio of 91.89, a PEG ratio of 2.86 and a beta of 1.39. 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 issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping 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%. As a group, analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the company's stock in a transaction that occurred on 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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the firm'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 sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

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.

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