783 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to its most recent filing with the SEC. The fund purchased 783 shares of the company’s stock, valued at approximately $165,000.

Several other hedge funds have also bought and sold shares of INSP. Allspring Global Investments Holdings LLC grew its position in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp increased its stake in Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after acquiring an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after acquiring an additional 156,893 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares during the last quarter. Finally, Principal Financial Group Inc. grew its holdings in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Activity

In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $176.04 on Wednesday. The company’s 50-day simple moving average is $201.34 and its two-hundred day simple moving average is $176.63. The company has a market capitalization of $5.28 billion, a P/E ratio of 164.52 and a beta of 1.36. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. The firm had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s revenue was up 32.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.29) EPS. On average, research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INSP shares. Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research report on Tuesday, November 5th. Wells Fargo & Company increased their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Truist Financial reissued a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $227.75.

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.