Pallas Capital Advisors LLC Purchases 876 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Pallas Capital Advisors LLC boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 29.9% in the third quarter, Holdings Channel.com reports. The institutional investor owned 3,804 shares of the company’s stock after acquiring an additional 876 shares during the period. Pallas Capital Advisors LLC’s holdings in Inspire Medical Systems were worth $743,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in INSP. Van ECK Associates Corp grew its stake in shares of Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Inspire Medical Systems by 4.1% in the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after acquiring an additional 79 shares during the last quarter. Signaturefd LLC grew its position in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Inspire Medical Systems by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after acquiring an additional 92 shares during the last quarter. Finally, Bessemer Group Inc. increased its stake in Inspire Medical Systems by 1.2% during the first quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INSP. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. 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. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Leerink Partners upped their price target 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. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $219.58.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $196.87 on Thursday. 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 $5.85 billion, a price-to-earnings ratio of -357.95 and a beta of 1.34. The stock has a 50 day moving average price of $200.92 and a 200 day moving average price of $181.13.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.41) EPS. Analysts forecast that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

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.