63,300 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 63,300 shares of the company’s stock, valued at approximately $13,359,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SouthState Corp purchased a new position in Inspire Medical Systems during the 2nd quarter worth $27,000. Farther Finance Advisors LLC grew its position in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP grew its position in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in Inspire Medical Systems during the 2nd quarter worth $53,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 2.6 %

Shares of INSP opened at $194.00 on Friday. The stock has a market cap of $5.81 billion, a P/E ratio of 181.31 and a beta of 1.36. The company has a 50-day moving average of $198.36 and a two-hundred day moving average of $175.98. 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) last announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.29) earnings per share. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INSP has been the topic of several research reports. Leerink Partners raised their price objective on shares of 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. Wells Fargo & Company raised their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Truist Financial reissued a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.58.

Insider Activity

In other news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were 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 $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

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.