Qsemble Capital Management LP Trims Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Qsemble Capital Management LP lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 44.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,344 shares of the company’s stock after selling 1,909 shares during the quarter. Qsemble Capital Management LP’s holdings in Inspire Medical Systems were worth $503,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Baillie Gifford & Co. increased its holdings in Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after purchasing an additional 237,734 shares in the last quarter. Wellington Management Group LLP increased its holdings in Inspire Medical Systems by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares in the last quarter. Wasatch Advisors LP increased its holdings in Inspire Medical Systems by 0.5% in the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock valued at $236,885,000 after purchasing an additional 5,522 shares in the last quarter. Frontier Capital Management Co. LLC increased its holdings in Inspire Medical Systems by 105.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after purchasing an additional 380,362 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Inspire Medical Systems by 49.5% in the 1st quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock valued at $127,924,000 after purchasing an additional 197,097 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $4.89 during trading hours on Wednesday, hitting $140.93. 79,774 shares of the company were exchanged, compared to its average volume of 587,950. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $328.70. The business’s 50-day simple moving average is $152.06 and its two-hundred day simple moving average is $187.60. The stock has a market capitalization of $4.19 billion, a price-to-earnings ratio of -265.22 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate 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 business 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 posted ($0.53) earnings per share. The company’s quarterly revenue was up 28.2% compared to the same quarter last year. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post 0.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INSP. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a report on Monday, June 24th. Bank of America lowered their price target on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a report on Monday, June 3rd. Piper Sandler raised their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 target price for the company. Finally, Truist Financial lowered their target price on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $244.33.

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.