CenterBook Partners LP Invests $1.17 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

CenterBook Partners LP acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 6,299 shares of the company’s stock, valued at approximately $1,168,000.

Other institutional investors have also bought and sold shares of the company. State Street Corp increased its stake in Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares during the period. TimesSquare Capital Management LLC bought a new stake in Inspire Medical Systems in the fourth quarter worth about $80,419,000. Raymond James Financial Inc. bought a new stake in Inspire Medical Systems in the fourth quarter worth about $47,604,000. Riverbridge Partners LLC acquired a new stake in Inspire Medical Systems in the 4th quarter valued at about $26,342,000. Finally, Principal Financial Group Inc. boosted its position in shares of Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

INSP has been the topic of a number of research reports. Wells Fargo & Company dropped their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Robert W. Baird cut their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Finally, Truist Financial cut their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $226.70.

Inspire Medical Systems Price Performance

NYSE INSP opened at $144.49 on Friday. The company has a 50 day simple moving average of $170.67 and a 200-day simple moving average of $185.70. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 83.52, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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.