Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System grew its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,500 shares of the company’s stock after buying an additional 100 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Inspire Medical Systems were worth $2,688,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. WCM Investment Management LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $10,291,000. Jennison Associates LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $8,821,000. China Universal Asset Management Co. Ltd. acquired a new position in Inspire Medical Systems during the 4th quarter worth $292,000. TriaGen Wealth Management LLC grew its stake in Inspire Medical Systems by 5.4% during the 4th quarter. TriaGen Wealth Management LLC now owns 2,137 shares of the company’s stock worth $396,000 after purchasing an additional 110 shares in the last quarter. Finally, KBC Group NV grew its stake in Inspire Medical Systems by 52.3% during the 4th quarter. KBC Group NV now owns 1,325 shares of the company’s stock worth $246,000 after purchasing an additional 455 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $187.23 on Friday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a market capitalization of $5.61 billion, a P/E ratio of 174.98 and a beta of 1.32. The stock has a 50-day simple moving average of $189.20 and a 200-day simple moving average of $191.36.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Truist Financial lowered their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus lowered their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus price target of $228.82.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company 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.