WCM Investment Management LLC Takes $10.29 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

WCM Investment Management LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 55,735 shares of the company's stock, valued at approximately $10,291,000. WCM Investment Management LLC owned 0.19% of Inspire Medical Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. True Wealth Design LLC bought a new position in Inspire Medical Systems in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew 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 in the last quarter. GAMMA Investing LLC grew its stake in shares of Inspire Medical Systems by 559.3% in the third 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. Signaturefd LLC raised its position in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after acquiring an additional 85 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock worth $68,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. 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 research report on Tuesday. Piper Sandler dropped their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $228.82.

Inspire Medical Systems Stock Up 0.1 %

Shares of INSP traded up $0.22 during trading hours on Thursday, hitting $187.23. The company had a trading volume of 622,337 shares, compared to its average volume of 624,818. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 174.98 and a beta of 1.32. The business has a fifty day moving average of $189.20 and a 200-day moving average of $191.36. 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 released its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. On average, equities analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by 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.