PFM Health Sciences LP Invests $20.75 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

PFM Health Sciences LP acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 98,322 shares of the company’s stock, valued at approximately $20,751,000. Inspire Medical Systems comprises 1.2% of PFM Health Sciences LP’s investment portfolio, making the stock its 29th largest holding. PFM Health Sciences LP owned approximately 0.33% of Inspire Medical Systems as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Tidal Investments LLC bought a new position in Inspire Medical Systems during the first quarter valued at approximately $1,151,000. AQR Capital Management LLC grew its position in Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Inspire Medical Systems by 27.1% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock valued at $8,699,000 after acquiring an additional 8,625 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Inspire Medical Systems during the third quarter valued at approximately $1,929,000. Finally, SG Americas Securities LLC grew its position in Inspire Medical Systems by 114.2% during the second quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock valued at $833,000 after acquiring an additional 3,321 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial restated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Wells Fargo & Company raised their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, KeyCorp cut their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $233.58.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The shares were 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 owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Price Performance

INSP opened at $192.67 on Friday. The stock has a 50-day moving average price of $197.96 and a 200-day moving average price of $176.21. The firm has a market cap of $5.77 billion, a PE ratio of 180.07 and a beta of 1.36. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.29) EPS. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.