RiverPark Advisors LLC Has $166,000 Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

RiverPark Advisors LLC raised its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 360.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 773 shares of the company’s stock after purchasing an additional 605 shares during the period. RiverPark Advisors LLC’s holdings in Inspire Medical Systems were worth $166,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Baillie Gifford & Co. grew its stake in shares of Inspire Medical Systems by 6,846.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after purchasing an additional 1,212,175 shares during the last quarter. Wellington Management Group LLP boosted its position in Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares during the last quarter. Frontier Capital Management Co. LLC boosted its position in Inspire Medical Systems by 105.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after acquiring an additional 380,362 shares during the last quarter. Jennison Associates LLC boosted its position in Inspire Medical Systems by 648.2% during the fourth quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock valued at $62,023,000 after acquiring an additional 264,139 shares during the last quarter. Finally, Norges Bank bought a new stake in Inspire Medical Systems during the fourth quarter valued at $49,116,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 3.3 %

Shares of Inspire Medical Systems stock traded down $4.43 on Tuesday, hitting $131.54. 462,592 shares of the company traded hands, compared to its average volume of 595,774. The firm’s 50-day simple moving average is $163.08 and its 200 day simple moving average is $189.83. The company has a market cap of $3.91 billion, a P/E ratio of -239.16 and a beta of 1.31. Inspire Medical Systems, Inc. has a 12-month low of $123.27 and a 12-month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The company had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. During the same quarter last year, the company earned ($0.53) EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. Analysts predict that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Bank of America cut their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective on the stock. Stifel Nicolaus cut their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Royal Bank of Canada assumed coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective on the stock. Finally, Piper Sandler increased their price objective on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.20.

Insider Activity

In related news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction dated Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following 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 Securities & Exchange Commission, which is available at this hyperlink. Insiders own 4.10% of the company’s stock.

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.