Man Group plc Buys 93,214 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Man Group plc boosted its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 112.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 175,926 shares of the company’s stock after buying an additional 93,214 shares during the period. Man Group plc owned approximately 0.59% of Inspire Medical Systems worth $32,613,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INSP. First Horizon Advisors Inc. grew its stake in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the period. Huntington National Bank lifted its holdings in shares of Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares in the last quarter. Harbour Investments Inc. grew its position in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. AlphaQuest LLC increased its stake in Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after purchasing an additional 291 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Inspire Medical Systems by 61.9% during the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock valued at $61,000 after purchasing an additional 125 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director now owns 24,046 shares of the company’s stock, valued at approximately $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 2.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company reduced their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Piper Sandler cut their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Royal Bank of Canada lowered their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley dropped their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price target on Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Three investment 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, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $211.91.

Inspire Medical Systems Stock Down 4.0%

INSP stock opened at $149.51 on Friday. The firm has a market cap of $4.41 billion, a PE ratio of 86.42, a P/E/G ratio of 2.86 and a beta of 1.39. The business has a 50 day moving average of $155.86 and a 200-day moving average of $177.23. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $225.00.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business had revenue of $201.32 million for the quarter, compared to analysts’ expectations of $194.89 million. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. On average, research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share 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.