QRG Capital Management Inc. Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

QRG Capital Management Inc. bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 1,119 shares of the company’s stock, valued at approximately $236,000.

Several other hedge funds also recently added to or reduced their stakes in the business. SouthState Corp acquired a new stake in shares of Inspire Medical Systems during the second quarter worth $27,000. Farther Finance Advisors LLC raised its stake in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the last quarter. GAMMA Investing LLC lifted 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 acquiring an additional 151 shares during the period. Quarry LP grew its stake in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Inspire Medical Systems in the second quarter valued at about $53,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 5.6 %

Shares of INSP stock opened at $190.73 on Wednesday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The business’s 50 day moving average is $203.06 and its two-hundred day moving average is $178.92. The company has a market capitalization of $5.72 billion, a P/E ratio of 178.25 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million for 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 revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.29) EPS. On average, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

INSP has been the subject of a number of research reports. Leerink Partners lifted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Piper Sandler restated an “overweight” rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and issued a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $227.75.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 in the last 90 days. 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.