US Bancorp DE Acquires 56 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

US Bancorp DE raised its position in Inspire Medical Systems, Inc. (NYSE:INSPGet Rating) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,164 shares of the company’s stock after acquiring an additional 56 shares during the period. US Bancorp DE’s holdings in Inspire Medical Systems were worth $384,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Royce & Associates LP boosted its stake in Inspire Medical Systems by 48.8% in the second quarter. Royce & Associates LP now owns 30,488 shares of the company’s stock valued at $5,569,000 after acquiring an additional 10,000 shares in the last quarter. CWM LLC boosted its stake in Inspire Medical Systems by 231.3% in the second quarter. CWM LLC now owns 159 shares of the company’s stock valued at $29,000 after acquiring an additional 111 shares in the last quarter. Driehaus Capital Management LLC boosted its stake in Inspire Medical Systems by 3.9% in the second quarter. Driehaus Capital Management LLC now owns 327,799 shares of the company’s stock valued at $59,879,000 after acquiring an additional 12,412 shares in the last quarter. Landscape Capital Management L.L.C. boosted its stake in Inspire Medical Systems by 3.2% in the second quarter. Landscape Capital Management L.L.C. now owns 12,343 shares of the company’s stock valued at $2,255,000 after acquiring an additional 380 shares in the last quarter. Finally, TimesSquare Capital Management LLC boosted its stake in Inspire Medical Systems by 4.0% in the second quarter. TimesSquare Capital Management LLC now owns 209,615 shares of the company’s stock valued at $38,290,000 after acquiring an additional 8,000 shares in the last quarter. 97.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 9,217 shares of the firm’s stock in a transaction on Friday, November 11th. The shares were sold at an average price of $221.42, for a total transaction of $2,040,828.14. Following the completion of the transaction, the director now owns 2,060 shares of the company’s stock, valued at $456,125.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 9,217 shares of Inspire Medical Systems stock in a transaction on Friday, November 11th. The shares were sold at an average price of $221.42, for a total value of $2,040,828.14. Following the completion of the transaction, the director now owns 2,060 shares of the company’s stock, valued at $456,125.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 678 shares of Inspire Medical Systems stock in a transaction on Monday, December 19th. The shares were sold at an average price of $251.72, for a total transaction of $170,666.16. Following the completion of the transaction, the chief technology officer now directly owns 16,230 shares of the company’s stock, valued at approximately $4,085,415.60. The disclosure for this sale can be found here. Insiders sold a total of 58,776 shares of company stock valued at $14,328,270 over the last 90 days. Insiders own 5.00% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $251.88 on Tuesday. The firm has a fifty day moving average price of $242.50 and a 200 day moving average price of $212.45. Inspire Medical Systems, Inc. has a 1 year low of $142.74 and a 1 year high of $272.04. The stock has a market cap of $7.28 billion, a PE ratio of -137.64 and a beta of 1.51.

Inspire Medical Systems (NYSE:INSPGet Rating) last issued its earnings results on Tuesday, November 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.75) by $0.15. Inspire Medical Systems had a negative net margin of 14.47% and a negative return on equity of 17.52%. The firm had revenue of $109.19 million during the quarter, compared to analysts’ expectations of $95.62 million. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post -2.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Lake Street Capital lowered their target price on shares of Inspire Medical Systems from $320.00 to $250.00 in a research note on Wednesday, November 2nd. TheStreet upgraded shares of Inspire Medical Systems from a “d+” rating to a “c” rating in a research note on Friday, December 16th. The Goldman Sachs Group upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $245.00 to $308.00 in a research note on Tuesday, December 13th. KeyCorp lifted their price objective on shares of Inspire Medical Systems from $287.00 to $303.00 and gave the stock an “overweight” rating in a research note on Friday, January 13th. Finally, Truist Financial lifted their price objective on shares of Inspire Medical Systems from $270.00 to $308.00 and gave the stock a “buy” rating in a research note on Tuesday, December 20th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $285.29.

Inspire Medical Systems Profile

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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