Inspire Medical Systems, Inc. $INSP Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC cut its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 88.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 11,785 shares of the company’s stock after selling 92,331 shares during the quarter. Granite Investment Partners LLC’s holdings in Inspire Medical Systems were worth $1,529,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Inspire Medical Systems by 214.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock valued at $177,267,000 after buying an additional 759,090 shares in the last quarter. Invesco Ltd. lifted its holdings in Inspire Medical Systems by 8.3% in the 1st quarter. Invesco Ltd. now owns 858,572 shares of the company’s stock valued at $136,753,000 after acquiring an additional 65,492 shares during the last quarter. William Blair Investment Management LLC lifted its holdings in Inspire Medical Systems by 11.0% in the 2nd quarter. William Blair Investment Management LLC now owns 769,169 shares of the company’s stock valued at $99,815,000 after acquiring an additional 76,251 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Inspire Medical Systems by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 512,836 shares of the company’s stock valued at $66,562,000 after purchasing an additional 1,627 shares in the last quarter. Finally, TimesSquare Capital Management LLC grew its stake in shares of Inspire Medical Systems by 4.8% in the 2nd quarter. TimesSquare Capital Management LLC now owns 499,199 shares of the company’s stock worth $64,781,000 after purchasing an additional 22,982 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on INSP. UBS Group set a $89.00 target price on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research note on Monday, September 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $130.00 price objective (up previously from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday. Lake Street Capital set a $150.00 price objective on Inspire Medical Systems and gave the stock a “buy” rating in a research note on Tuesday, August 5th. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 target price (down from $160.00) on shares of Inspire Medical Systems in a report on Friday, October 24th. Nine analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $131.63.

Inspire Medical Systems Stock Up 6.1%

INSP opened at $134.08 on Wednesday. The firm has a market capitalization of $3.90 billion, a P/E ratio of 91.21, a PEG ratio of 13.69 and a beta of 0.70. The stock has a fifty day moving average of $86.45 and a 200-day moving average of $104.64. Inspire Medical Systems, Inc. has a 12-month low of $70.77 and a 12-month high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.53. The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.Inspire Medical Systems’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 earnings per share. On average, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its Board of Directors has approved a share buyback plan on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction that occurred on Friday, November 28th. The shares were sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This represents a 7.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

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.