Jacobs Levy Equity Management Inc. Acquires 188,492 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Jacobs Levy Equity Management Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 869.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 210,160 shares of the company’s stock after acquiring an additional 188,492 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Inspire Medical Systems were worth $38,959,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. boosted its stake in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock worth $606,259,000 after acquiring an additional 38,219 shares during the period. Dragoneer Investment Group LLC acquired a new stake in Inspire Medical Systems during the 4th quarter worth approximately $161,486,000. Invesco Ltd. lifted its holdings in Inspire Medical Systems by 14.3% during the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock worth $147,021,000 after purchasing an additional 99,030 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in Inspire Medical Systems by 12.9% during the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company’s stock worth $105,173,000 after purchasing an additional 64,703 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after purchasing an additional 2,687 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $151.58 on Monday. The stock has a market capitalization of $4.47 billion, a PE ratio of 87.62, a P/E/G ratio of 2.86 and a beta of 1.39. The business has a fifty day moving average price of $157.70 and a two-hundred day moving average price of $178.09. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $225.00.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The company had revenue of $201.32 million during the quarter, compared to analysts’ expectations of $194.89 million. During the same quarter in the previous year, the firm earned ($0.34) EPS. Inspire Medical Systems’s revenue was up 22.7% on a year-over-year basis. On average, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares of the company’s stock, valued at approximately $3,847,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This trade represents a 77.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,527 shares of company stock valued at $4,851,660. Corporate insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

INSP has been the subject of several research reports. Wells Fargo & Company dropped their price target on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their price target on Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Truist Financial dropped their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada dropped their price target on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Finally, Robert W. Baird lifted their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $211.91.

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.