Dark Forest Capital Management LP Acquires New Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Dark Forest Capital Management LP acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, Holdings Channel reports. The institutional investor acquired 1,439 shares of the company’s stock, valued at approximately $267,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. grew its stake in Inspire Medical Systems by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock worth $606,259,000 after acquiring an additional 38,219 shares in the last quarter. Invesco Ltd. raised its stake in shares of Inspire Medical Systems by 14.3% during the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after acquiring an additional 99,030 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after acquiring an additional 2,687 shares in the last quarter. TimesSquare Capital Management LLC bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $80,419,000. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock valued at $61,709,000 after acquiring an additional 58,447 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on 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 completion of the sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $157.79 on Tuesday. The business’s 50 day moving average price is $162.45 and its 200-day moving average price is $180.71. The firm has a market capitalization of $4.70 billion, a PE ratio of 91.21, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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 return on equity of 8.19% and a net margin of 6.67%. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. KeyCorp decreased their price target on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Royal Bank of Canada cut their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley cut their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus cut their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a report on Monday, April 21st. Finally, Truist Financial dropped their price objective on shares of 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $218.90.

About Inspire Medical Systems

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.