Cornerstone Investment Partners LLC Purchases Shares of 1,016 Inspire Medical Systems, Inc. (NYSE:INSP)

Cornerstone Investment Partners LLC purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,016 shares of the company’s stock, valued at approximately $207,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Altshuler Shaham Ltd purchased a new position in Inspire Medical Systems during the 4th quarter worth $29,000. McGlone Suttner Wealth Management Inc. purchased a new position in Inspire Medical Systems during the 4th quarter worth $27,000. Parkside Financial Bank & Trust purchased a new position in Inspire Medical Systems during the 1st quarter worth $37,000. Meeder Asset Management Inc. boosted its holdings in Inspire Medical Systems by 7,850.0% during the 4th quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after acquiring an additional 157 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in Inspire Medical Systems during the 3rd quarter worth $34,000. Institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on INSP. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective on the stock. Mizuho reissued a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Royal Bank of Canada assumed coverage on shares of Inspire Medical Systems in a report on Friday. They issued an “outperform” rating and a $285.00 price target on the stock. Finally, KeyCorp assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.20.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the transaction, the insider now directly owns 3,029 shares in the company, valued at $561,485.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 12,230 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total value of $2,267,075.10. Following the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at approximately $561,485.73. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock worth $15,664,278 over the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

INSP stock opened at $229.26 on Friday. The company’s 50 day moving average is $203.53 and its 200 day moving average is $184.00. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same period last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 39.6% on a year-over-year basis. Research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal 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.