HealthInvest Partners AB Takes $657,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

HealthInvest Partners AB purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,229 shares of the company’s stock, valued at approximately $657,000.

A number of other large investors also recently modified their holdings of INSP. Commonwealth Equity Services LLC raised its holdings in shares of Inspire Medical Systems by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock valued at $1,585,000 after acquiring an additional 36 shares in the last quarter. Metropolitan Life Insurance Co NY raised its stake in Inspire Medical Systems by 2.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock valued at $437,000 after purchasing an additional 39 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Inspire Medical Systems by 3.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,122 shares of the company’s stock valued at $364,000 after purchasing an additional 42 shares during the last quarter. Y Intercept Hong Kong Ltd grew its stake in Inspire Medical Systems by 3.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,200 shares of the company’s stock worth $390,000 after buying an additional 43 shares in the last quarter. Finally, Pathstone Family Office LLC increased its holdings in shares of Inspire Medical Systems by 2.7% in the 3rd quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock worth $403,000 after buying an additional 59 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

INSP has been the subject of several research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Mizuho reaffirmed a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target on the stock. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $271.29.

Insider Buying and Selling

In related news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 12,230 shares of the company’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the transaction, the insider now owns 3,029 shares of the company’s stock, valued at $561,485.73. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,371 shares of company stock valued at $12,213,828. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded down $1.51 during midday trading on Tuesday, reaching $221.63. 297,510 shares of the company traded hands, compared to its average volume of 512,455. Inspire Medical Systems, Inc. has a 12 month low of $123.27 and a 12 month high of $330.00. The business has a 50 day moving average of $201.32 and a two-hundred day moving average of $182.77. The firm has a market capitalization of $6.72 billion, a price-to-earnings ratio of -300.27 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same period in the prior year, the firm earned $0.10 EPS. The company’s revenue was up 39.6% compared to the same quarter last year. As a group, equities analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

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.