New York State Common Retirement Fund Has $3.73 Million Stock Position in Inspire Medical Systems, Inc. $INSP

New York State Common Retirement Fund lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 73.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,247 shares of the company’s stock after selling 141,021 shares during the quarter. New York State Common Retirement Fund’s holdings in Inspire Medical Systems were worth $3,728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSP. Manning & Napier Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at approximately $32,000. Pilgrim Partners Asia Pte Ltd bought a new stake in Inspire Medical Systems in the third quarter worth $49,000. Daiwa Securities Group Inc. increased its position in Inspire Medical Systems by 38.7% during the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after buying an additional 130 shares during the last quarter. Covestor Ltd raised its holdings in Inspire Medical Systems by 3,708.7% during the third quarter. Covestor Ltd now owns 1,752 shares of the company’s stock valued at $130,000 after buying an additional 1,706 shares in the last quarter. Finally, FORA Capital LLC bought a new position in Inspire Medical Systems during the second quarter valued at about $220,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Up 0.3%

Shares of INSP stock opened at $65.78 on Friday. The firm has a market capitalization of $1.91 billion, a P/E ratio of 44.75, a price-to-earnings-growth ratio of 6.63 and a beta of 0.74. Inspire Medical Systems, Inc. has a 1 year low of $64.77 and a 1 year high of $197.75. The firm’s fifty day simple moving average is $99.89 and its 200 day simple moving average is $93.01.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction dated Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the transaction, the director owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Robert W. Baird increased their price objective on Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $160.00 to $145.00 and set an “overweight” rating for the company in a research report on Wednesday, January 14th. UBS Group set a $96.00 price target on shares of Inspire Medical Systems in a research report on Thursday, January 22nd. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Finally, Mizuho upped their price objective on shares of Inspire Medical Systems from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Eight equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Hold” and a consensus price target of $133.47.

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.