Rhenman & Partners Asset Management AB Has $27.82 Million Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Rhenman & Partners Asset Management AB increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 23.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 150,041 shares of the company’s stock after acquiring an additional 28,041 shares during the quarter. Inspire Medical Systems comprises approximately 2.9% of Rhenman & Partners Asset Management AB’s investment portfolio, making the stock its 7th biggest holding. Rhenman & Partners Asset Management AB’s holdings in Inspire Medical Systems were worth $27,815,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INSP. State Street Corp increased its holdings in shares of Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after acquiring an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at approximately $80,419,000. Raymond James Financial Inc. bought a new stake in Inspire Medical Systems during the 4th quarter worth approximately $47,604,000. Riverbridge Partners LLC acquired a new stake in Inspire Medical Systems during the 4th quarter worth approximately $26,342,000. Finally, Principal Financial Group Inc. raised its holdings in Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after buying an additional 137,483 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INSP. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Piper Sandler dropped their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company reduced their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. KeyCorp reissued an “overweight” rating and issued a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Stifel Nicolaus cut their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $226.70.

Insider Activity

In related 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 transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction 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 sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock valued at $4,806,530 in the last quarter. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $141.49 on Friday. The stock has a 50 day moving average price of $175.94 and a 200 day moving average price of $188.34. The stock has a market capitalization of $4.21 billion, a PE ratio of 81.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate 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, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS 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.