Algert Global LLC Has $9.62 Million Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Algert Global LLC increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 145.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,563 shares of the company’s stock after buying an additional 26,971 shares during the quarter. Algert Global LLC’s holdings in Inspire Medical Systems were worth $9,616,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in INSP. Bessemer Group Inc. lifted its position in shares of Inspire Medical Systems by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock valued at $1,820,000 after acquiring an additional 100 shares during the period. 1832 Asset Management L.P. acquired a new position in Inspire Medical Systems in the first quarter valued at about $1,740,000. Lazard Asset Management LLC lifted its position in Inspire Medical Systems by 85.0% during the first quarter. Lazard Asset Management LLC now owns 63,196 shares of the company’s stock worth $13,573,000 after purchasing an additional 29,039 shares during the period. BOKF NA grew its stake in Inspire Medical Systems by 149.0% during the first quarter. BOKF NA now owns 12,260 shares of the company’s stock worth $2,570,000 after buying an additional 7,337 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after buying an additional 156,893 shares during the period. Institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

INSP has been the topic of several analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Leerink Partners raised their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. KeyCorp dropped their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $188.73 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a market cap of $5.66 billion, a PE ratio of 176.38 and a beta of 1.36. The company has a 50 day simple moving average of $199.53 and a 200 day simple moving average of $175.81.

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

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.10% of the company’s stock.

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.