TimesSquare Capital Management LLC Purchases New Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

TimesSquare Capital Management LLC bought a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 433,806 shares of the company's stock, valued at approximately $80,419,000. Inspire Medical Systems comprises about 1.2% of TimesSquare Capital Management LLC's portfolio, making the stock its 23rd biggest position. TimesSquare Capital Management LLC owned approximately 1.45% of Inspire Medical Systems at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of Inspire Medical Systems during the third quarter valued at $100,000. Creative Planning grew its holdings in shares of Inspire Medical Systems by 25.8% during the third quarter. Creative Planning now owns 3,240 shares of the company's stock valued at $684,000 after buying an additional 665 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock valued at $56,530,000 after buying an additional 238,034 shares in the last quarter. Signaturefd LLC grew its holdings in shares of Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after buying an additional 85 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Inspire Medical Systems during the third quarter valued at $91,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Down 0.9 %

Shares of NYSE:INSP traded down $1.52 on Friday, reaching $176.87. The company had a trading volume of 436,322 shares, compared to its average volume of 609,751. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a 50-day moving average price of $188.14 and a 200 day moving average price of $192.70. The stock has a market capitalization of $5.25 billion, a P/E ratio of 102.24, a P/E/G ratio of 2.87 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Royal Bank of Canada reiterated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Bank of America upgraded Inspire Medical Systems from a "neutral" rating to a "buy" rating and lifted their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Morgan Stanley lowered their price target on 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 reduced 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. Finally, Piper Sandler reduced their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $228.82.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, 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. Insiders sold 26,225 shares of company stock valued at $4,806,530 over the last quarter. Insiders own 4.10% of the company's stock.

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.