State of New Jersey Common Pension Fund D Has $2.49 Million Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

State of New Jersey Common Pension Fund D cut its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 2.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,779 shares of the company’s stock after selling 252 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Inspire Medical Systems were worth $2,486,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of INSP. Farther Finance Advisors LLC raised its position in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares in the last quarter. SouthState Corp purchased a new stake in Inspire Medical Systems in the 2nd quarter valued at about $27,000. Signaturefd LLC lifted its position in shares of Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after buying an additional 85 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after buying an additional 176 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on INSP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $227.75.

Inspire Medical Systems Stock Down 4.5 %

INSP stock opened at $182.08 on Thursday. The stock has a 50-day simple moving average of $203.34 and a two-hundred day simple moving average of $178.59. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market capitalization of $5.46 billion, a PE ratio of 170.17 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the prior year, the firm posted ($0.29) EPS. Inspire Medical Systems’s revenue was up 32.6% on a year-over-year basis. On average, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,692 shares of company stock worth $1,099,207. Corporate insiders own 4.10% of the company’s stock.

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.