Fox Run Management L.L.C. Buys Shares of 10,782 Inspire Medical Systems, Inc. $INSP

Fox Run Management L.L.C. bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,782 shares of the company’s stock, valued at approximately $800,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dragoneer Investment Group LLC lifted its holdings in shares of Inspire Medical Systems by 81.4% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after acquiring an additional 1,056,808 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in Inspire Medical Systems by 59.9% in the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock valued at $89,957,000 after purchasing an additional 259,716 shares during the period. Man Group plc lifted its stake in Inspire Medical Systems by 192.9% during the second quarter. Man Group plc now owns 380,298 shares of the company’s stock worth $49,351,000 after purchasing an additional 250,456 shares in the last quarter. Norges Bank acquired a new position in Inspire Medical Systems during the second quarter worth $31,066,000. Finally, Braidwell LP boosted its position in shares of Inspire Medical Systems by 72.7% during the second quarter. Braidwell LP now owns 522,410 shares of the company’s stock worth $67,793,000 after buying an additional 220,000 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on INSP. Jefferies Financial Group cut their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, February 12th. Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the company a “neutral” rating in a research report on Thursday, February 12th. UBS Group set a $67.00 price target on shares of Inspire Medical Systems in a research note on Friday, February 13th. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research note on Thursday, February 12th. Finally, Truist Financial dropped their price objective on shares of Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Five analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Hold” and a consensus target price of $104.82.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $68.12 on Friday. The business has a 50-day simple moving average of $80.99 and a 200-day simple moving average of $88.08. Inspire Medical Systems, Inc. has a one year low of $53.11 and a one year high of $197.75. The company has a market cap of $1.95 billion, a PE ratio of 13.68, a P/E/G ratio of 2.93 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. During the same quarter last year, the company earned $1.15 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.