Cornerstone Investment Partners LLC Purchases Shares of 1,079 Inspire Medical Systems, Inc. (NYSE:INSP)

Cornerstone Investment Partners LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,079 shares of the company’s stock, valued at approximately $200,000.

Several other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Advisors Inc. raised its stake in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. True Wealth Design LLC purchased a new position in Inspire Medical Systems during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC grew its stake in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after buying an additional 229 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in Inspire Medical Systems by 37.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of research reports. Piper Sandler lowered their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial reduced their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. KeyCorp reissued an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Robert W. Baird reduced their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Trading Down 1.1 %

Shares of INSP opened at $180.50 on Wednesday. The stock’s 50 day moving average is $187.66 and its two-hundred day moving average is $193.02. 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 $5.36 billion, a PE ratio of 104.33, a P/E/G ratio of 2.86 and a beta of 1.32.

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, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock valued at $4,806,530 in the last ninety days. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems Company 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.