Brown Capital Management LLC Has $20.63 Million Stake in Inspire Medical Systems, Inc. $INSP

Brown Capital Management LLC reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 24.3% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 278,040 shares of the company’s stock after selling 89,401 shares during the period. Brown Capital Management LLC owned about 0.94% of Inspire Medical Systems worth $20,631,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Manning & Napier Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 3rd quarter worth $32,000. Pilgrim Partners Asia Pte Ltd purchased a new position in Inspire Medical Systems during the third quarter worth about $49,000. Daiwa Securities Group Inc. grew its position in Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares in the last quarter. Covestor Ltd grew its holdings in shares of Inspire Medical Systems by 3,708.7% in the third quarter. Covestor Ltd now owns 1,752 shares of the company’s stock valued at $130,000 after acquiring an additional 1,706 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Inspire Medical Systems in the second quarter worth $220,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the transaction, the director 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.30% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $73.64 on Tuesday. The stock has a fifty day moving average of $104.68 and a 200 day moving average of $94.43. Inspire Medical Systems, Inc. has a 52-week low of $70.77 and a 52-week high of $203.12. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 50.09, a P/E/G ratio of 7.64 and a beta of 0.74.

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

Analyst Upgrades and Downgrades

A number of research firms have recently commented on INSP. Piper Sandler lifted their target price on Inspire Medical Systems from $135.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, December 8th. Mizuho boosted their target price on shares of Inspire Medical Systems from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Wednesday, December 17th. Jefferies Financial Group restated a “hold” rating and set a $85.00 price target (down previously from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. KeyCorp reiterated a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Finally, Oppenheimer downgraded Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Inspire Medical Systems presently has a consensus rating of “Hold” and an average target price of $133.47.

Inspire Medical Systems Company 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.