Inspire Medical Systems, Inc. (NYSE:INSP) Holdings Lowered by William Blair Investment Management LLC

William Blair Investment Management LLC trimmed its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 836,162 shares of the company’s stock after selling 528 shares during the period. Inspire Medical Systems comprises about 0.9% of William Blair Investment Management LLC’s holdings, making the stock its 18th biggest holding. William Blair Investment Management LLC owned 2.85% of Inspire Medical Systems worth $271,452,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of INSP. Norges Bank purchased a new stake in shares of Inspire Medical Systems during the fourth quarter valued at $65,929,000. Envestnet Asset Management Inc. lifted its holdings in shares of Inspire Medical Systems by 1,117.0% during the first quarter. Envestnet Asset Management Inc. now owns 231,421 shares of the company’s stock valued at $4,586,000 after purchasing an additional 212,406 shares during the last quarter. 1832 Asset Management L.P. purchased a new stake in Inspire Medical Systems in the 1st quarter worth about $43,186,000. Renaissance Technologies LLC lifted its stake in Inspire Medical Systems by 417.2% in the 1st quarter. Renaissance Technologies LLC now owns 211,000 shares of the company’s stock worth $49,389,000 after acquiring an additional 170,200 shares in the last quarter. Finally, Summit Partners Public Asset Management LLC lifted its stake in Inspire Medical Systems by 114.3% in the 4th quarter. Summit Partners Public Asset Management LLC now owns 299,090 shares of the company’s stock worth $75,335,000 after acquiring an additional 159,506 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Up 2.8 %

INSP traded up $3.95 during midday trading on Monday, reaching $144.20. The company’s stock had a trading volume of 178,542 shares, compared to its average volume of 494,331. The stock has a market cap of $4.26 billion, a P/E ratio of -126.28 and a beta of 1.48. The company has a fifty day simple moving average of $169.93 and a 200 day simple moving average of $243.72. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, November 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.24. The firm had revenue of $153.30 million for the quarter, compared to analyst estimates of $154.49 million. Inspire Medical Systems had a negative return on equity of 6.32% and a negative net margin of 5.75%. The company’s revenue was up 40.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.60) EPS. Sell-side analysts expect that Inspire Medical Systems, Inc. will post -1.48 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently issued reports on INSP. Wells Fargo & Company reduced their price objective on Inspire Medical Systems from $330.00 to $245.00 and set an “overweight” rating for the company in a research note on Wednesday, November 8th. Mizuho dropped their target price on Inspire Medical Systems from $300.00 to $215.00 and set a “buy” rating on the stock in a research report on Wednesday, November 8th. TheStreet lowered Inspire Medical Systems from a “c-” rating to a “d+” rating in a research report on Thursday, October 26th. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $350.00 to $250.00 and set a “buy” rating on the stock in a research report on Tuesday, November 7th. Finally, UBS Group dropped their target price on Inspire Medical Systems from $405.00 to $322.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $283.92.

Inspire Medical Systems Company 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.