Inspire Medical Systems, Inc. $INSP Shares Purchased by CW Advisors LLC

CW Advisors LLC boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 45.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,960 shares of the company’s stock after acquiring an additional 15,576 shares during the quarter. CW Advisors LLC’s holdings in Inspire Medical Systems were worth $6,484,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of INSP. Edgestream Partners L.P. increased its position in shares of Inspire Medical Systems by 1,256.7% during the 2nd quarter. Edgestream Partners L.P. now owns 60,198 shares of the company’s stock worth $7,812,000 after purchasing an additional 55,761 shares during the last quarter. New York State Common Retirement Fund boosted its stake in Inspire Medical Systems by 4.7% during the second quarter. New York State Common Retirement Fund now owns 191,268 shares of the company’s stock worth $24,821,000 after buying an additional 8,518 shares during the period. Norges Bank acquired a new stake in shares of Inspire Medical Systems during the second quarter valued at about $31,066,000. Quadrature Capital Ltd raised its stake in shares of Inspire Medical Systems by 73.4% in the 2nd quarter. Quadrature Capital Ltd now owns 8,462 shares of the company’s stock valued at $1,097,000 after acquiring an additional 3,582 shares during the period. Finally, Hsbc Holdings PLC acquired a new position in shares of Inspire Medical Systems in the 2nd quarter worth approximately $1,033,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems 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 transaction, the director owned 26,046 shares in the company, valued at $3,320,344.08. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently weighed in on INSP. Wells Fargo & Company upgraded shares of Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $101.00 to $90.00 in a report on Tuesday, November 4th. Leerink Partners dropped their price objective on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating for the company in a research note on Friday, August 15th. KeyCorp reissued a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Inspire Medical Systems in a report on Thursday. Finally, Truist Financial upgraded shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and boosted their price target for the stock from $128.00 to $165.00 in a research note on Wednesday, November 26th. Nine investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $128.13.

Inspire Medical Systems Trading Down 2.3%

NYSE:INSP opened at $136.75 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $70.77 and a 12-month high of $216.01. The firm has a market cap of $3.97 billion, a PE ratio of 93.02, a price-to-earnings-growth ratio of 16.14 and a beta of 0.70. The stock has a fifty day moving average price of $90.06 and a 200 day moving average price of $105.01.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.53. The company 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 revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 EPS. Equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its Board of Directors has authorized a share buyback plan on Monday, August 11th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

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.