Riverbridge Partners LLC Acquires Shares of 142,097 Inspire Medical Systems, Inc. (NYSE:INSP)

Riverbridge Partners LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 142,097 shares of the company’s stock, valued at approximately $26,342,000. Riverbridge Partners LLC owned approximately 0.47% of Inspire Medical Systems as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in INSP. Dimensional Fund Advisors LP grew its position in Inspire Medical Systems by 79.7% during the second quarter. Dimensional Fund Advisors LP now owns 109,560 shares of the company’s stock worth $14,663,000 after buying an additional 48,590 shares in the last quarter. Amalgamated Bank lifted its holdings in shares of Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after acquiring an additional 79 shares during the last quarter. Blair William & Co. IL boosted its position in Inspire Medical Systems by 13.1% in the second quarter. Blair William & Co. IL now owns 7,826 shares of the company’s stock valued at $1,047,000 after buying an additional 905 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Inspire Medical Systems by 14.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 70,500 shares of the company’s stock valued at $9,435,000 after acquiring an additional 8,900 shares in the last quarter. Finally, Xponance Inc. grew its holdings in shares of Inspire Medical Systems by 5.6% during the second quarter. Xponance Inc. now owns 3,924 shares of the company’s stock worth $525,000 after purchasing an additional 209 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on INSP shares. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Truist Financial reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $231.64.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $188.87 on Thursday. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock’s 50 day moving average price is $188.58 and its two-hundred day moving average price is $186.03. The stock has a market capitalization of $5.66 billion, a price-to-earnings ratio of 176.51 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business’s revenue was up 32.6% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.29) earnings per share. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.35 EPS for the current year.

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.