Stanley Laman Group Ltd. Purchases New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)

Stanley Laman Group Ltd. purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 51,051 shares of the company’s stock, valued at approximately $10,385,000. Inspire Medical Systems accounts for 1.6% of Stanley Laman Group Ltd.’s holdings, making the stock its 5th largest holding.

Several other institutional investors have also added to or reduced their stakes in INSP. FMR LLC raised its holdings in shares of Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after buying an additional 1,397,510 shares in the last quarter. Baillie Gifford & Co. grew its position in shares of Inspire Medical Systems by 6,846.9% in the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock valued at $250,194,000 after buying an additional 1,212,175 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Inspire Medical Systems by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after buying an additional 411,480 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of Inspire Medical Systems by 29.9% in the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock valued at $145,337,000 after buying an additional 168,733 shares during the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Inspire Medical Systems by 31.8% during the 3rd quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock valued at $98,506,000 after purchasing an additional 119,846 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Price Performance

NYSE INSP traded down $3.18 during trading hours on Thursday, reaching $231.01. 215,723 shares of the stock traded hands, compared to its average volume of 527,696. The stock has a 50 day simple moving average of $206.65 and a two-hundred day simple moving average of $185.40. Inspire Medical Systems, Inc. has a 1 year low of $123.27 and a 1 year high of $330.00. The company has a market cap of $7.00 billion, a price-to-earnings ratio of -312.18 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same quarter last year, the business posted $0.10 earnings per share. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 12,230 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the transaction, the insider now owns 3,029 shares in the company, valued at approximately $561,485.73. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 12,230 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the sale, the insider now directly owns 3,029 shares in the company, valued at $561,485.73. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock worth $15,664,278 in the last 90 days. Company insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on INSP. Truist Financial restated a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Morgan Stanley initiated coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target on the stock. KeyCorp initiated coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Jefferies Financial Group started coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target on the stock. Finally, Royal Bank of Canada started coverage on Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

About Inspire Medical Systems

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.