Lecap Asset Management Ltd. Decreases Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Lecap Asset Management Ltd. cut its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 40.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,666 shares of the company’s stock after selling 4,531 shares during the quarter. Lecap Asset Management Ltd.’s holdings in Inspire Medical Systems were worth $1,407,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Signaturefd LLC boosted its position in shares of Inspire Medical Systems by 45.9% in 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. Everence Capital Management Inc. purchased a new position in Inspire Medical Systems in the 3rd quarter valued at about $882,000. Allspring Global Investments Holdings LLC lifted its holdings in Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares in the last quarter. TriaGen Wealth Management LLC purchased a new position in Inspire Medical Systems in the 3rd quarter valued at about $428,000. Finally, nVerses Capital LLC lifted its holdings in Inspire Medical Systems by 18.8% in the 3rd quarter. nVerses Capital LLC now owns 1,900 shares of the company’s stock valued at $401,000 after purchasing an additional 300 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on INSP shares. KeyCorp reduced their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Leerink Partners upped their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Finally, Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $219.58.

Inspire Medical Systems Stock Performance

INSP opened at $192.40 on Thursday. The firm has a 50 day moving average price of $200.20 and a 200 day moving average price of $182.45. The company has a market cap of $5.72 billion, a PE ratio of -349.82 and a beta of 1.34. 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 posted its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. The firm had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.41) EPS. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock worth $1,099,207 in the last 90 days. 4.10% of the stock is owned by company insiders.

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.