State of New Jersey Common Pension Fund D Purchases 1,087 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

State of New Jersey Common Pension Fund D raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 6.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 17,791 shares of the company’s stock after purchasing an additional 1,087 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.06% of Inspire Medical Systems worth $3,619,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. FMR LLC increased its holdings in shares of Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares during the period. Baillie Gifford & Co. boosted its position in shares of Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock valued at $250,194,000 after acquiring an additional 1,212,175 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of Inspire Medical Systems by 29.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock valued at $145,337,000 after acquiring an additional 168,733 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Inspire Medical Systems by 31.8% during the 3rd quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock valued at $98,506,000 after acquiring an additional 119,846 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Richard Buchholz sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock valued at $15,664,278 over the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

INSP opened at $237.45 on Friday. The firm has a 50 day simple moving average of $207.54 and a 200 day simple moving average of $185.82. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00.

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

Analysts Set New Price Targets

INSP has been the topic of several recent research reports. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Mizuho restated a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Truist Financial restated a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Jefferies Financial Group began coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target on the stock. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.20.

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.