Mairs & Power INC boosted its holdings in shares of Inspire Medical Systems (NASDAQ:INSP) by 22.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,565 shares of the company’s stock after purchasing an additional 28,365 shares during the period. Mairs & Power INC owned approximately 0.73% of Inspire Medical Systems worth $6,615,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Bank of America Corp DE acquired a new stake in shares of Inspire Medical Systems in the second quarter valued at $306,000. Northern Trust Corp acquired a new stake in shares of Inspire Medical Systems in the second quarter valued at $3,373,000. American Century Companies Inc. acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at $4,234,000. Dupont Capital Management Corp acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at $314,000. Finally, Wasatch Advisors Inc. raised its stake in shares of Inspire Medical Systems by 17.2% in the third quarter. Wasatch Advisors Inc. now owns 35,006 shares of the company’s stock valued at $1,473,000 after acquiring an additional 5,149 shares in the last quarter.

INSP has been the topic of several analyst reports. Zacks Investment Research upgraded Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, February 12th. Dougherty & Co initiated coverage on Inspire Medical Systems in a research note on Tuesday, February 5th. They issued a “buy” rating and a $64.00 price objective on the stock. Finally, Berenberg Bank initiated coverage on Inspire Medical Systems in a research note on Wednesday, November 28th. They issued a “sell” rating and a $31.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. Inspire Medical Systems currently has a consensus rating of “Hold” and a consensus target price of $44.11.

In related news, CEO Timothy P. Herbert sold 15,000 shares of the stock in a transaction on Tuesday, December 18th. The stock was sold at an average price of $42.88, for a total value of $643,200.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Richard Buchholz sold 2,000 shares of the stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $56.87, for a total value of $113,740.00. The disclosure for this sale can be found here. Insiders sold 845,054 shares of company stock worth $43,724,104 in the last three months.

NASDAQ:INSP traded down $0.33 during trading hours on Thursday, hitting $55.65. The company’s stock had a trading volume of 26,322 shares, compared to its average volume of 368,116. Inspire Medical Systems has a 52-week low of $22.50 and a 52-week high of $64.34.

Inspire Medical Systems (NASDAQ:INSP) last posted its earnings results on Tuesday, February 26th. The company reported ($0.22) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.10. The business had revenue of $16.56 million during the quarter, compared to analysts’ expectations of $15.42 million. Inspire Medical Systems’s revenue was up 66.3% compared to the same quarter last year.

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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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

Further Reading: What is cost of equity?

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Institutional Ownership by Quarter for Inspire Medical Systems (NASDAQ:INSP)

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