The Manufacturers Life Insurance Company Cuts Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

The Manufacturers Life Insurance Company reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 26.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 15,666 shares of the company's stock after selling 5,527 shares during the quarter. The Manufacturers Life Insurance Company owned 0.05% of Inspire Medical Systems worth $3,306,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after buying an additional 139 shares during the period. GAMMA Investing LLC grew its holdings in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after buying an additional 151 shares in the last quarter. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $27,000. Signaturefd LLC increased its holdings in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after acquiring an additional 85 shares during the period. Finally, Quarry LP grew its position in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company's stock valued at $46,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Trading Up 0.7 %

NYSE:INSP traded up $1.43 during trading hours on Friday, reaching $193.03. The company had a trading volume of 297,753 shares, compared to its average volume of 470,554. The firm's 50 day moving average price is $196.36 and its 200-day moving average price is $177.71. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted 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 company 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%. The firm's quarterly revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.29) earnings per share. On average, analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on INSP shares. Leerink Partners boosted their target price 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. Truist Financial reiterated a "buy" rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their target price for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Stifel Nicolaus reaffirmed a "hold" rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Robert W. Baird upped their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $233.58.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 4.10% of the stock is owned by company 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.