Artisan Partners Limited Partnership Buys 163,916 Shares of Inspire Medical Systems, Inc. $INSP

Artisan Partners Limited Partnership grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 45.2% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 526,242 shares of the company’s stock after buying an additional 163,916 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Inspire Medical Systems were worth $39,047,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Xponance Inc. grew its position in Inspire Medical Systems by 2.9% in the third quarter. Xponance Inc. now owns 4,177 shares of the company’s stock worth $310,000 after acquiring an additional 116 shares in the last quarter. Amalgamated Bank lifted its stake in Inspire Medical Systems by 1.3% during the second quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after purchasing an additional 125 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Choreo LLC increased its position in shares of Inspire Medical Systems by 9.8% during the 2nd quarter. Choreo LLC now owns 1,877 shares of the company’s stock valued at $244,000 after purchasing an additional 168 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in shares of Inspire Medical Systems by 2.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,572 shares of the company’s stock valued at $1,112,000 after purchasing an additional 201 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

INSP has been the subject of several research reports. Piper Sandler cut their target price on 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. Truist Financial cut 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 research note on Thursday, February 12th. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. UBS Group set a $67.00 target price on shares of Inspire Medical Systems in a research report on Friday, February 13th. Finally, Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research report on Friday, February 13th. Five investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Hold” and a consensus price target of $104.82.

Inspire Medical Systems Stock Down 5.2%

NYSE:INSP opened at $64.49 on Friday. The company has a fifty day moving average of $80.35 and a 200 day moving average of $88.00. Inspire Medical Systems, Inc. has a 52 week low of $53.11 and a 52 week high of $189.49. The firm has a market capitalization of $1.84 billion, a P/E ratio of 12.95, a P/E/G ratio of 3.16 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same quarter last year, the firm earned $1.15 EPS. The company’s revenue was up 12.2% on a year-over-year basis. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems 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.