Champlain Investment Partners LLC Sells 50,173 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Champlain Investment Partners LLC lowered its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 9.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 464,612 shares of the company’s stock after selling 50,173 shares during the period. Champlain Investment Partners LLC’s holdings in Inspire Medical Systems were worth $98,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its stake in Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock valued at $105,433,000 after buying an additional 192,238 shares during the last quarter. William Blair Investment Management LLC raised its holdings in shares of Inspire Medical Systems by 1.8% during the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after acquiring an additional 13,602 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 valued at $98,754,000 after acquiring an additional 156,893 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Inspire Medical Systems by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 281,165 shares of the company’s stock valued at $59,340,000 after purchasing an additional 11,939 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now directly 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 Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

INSP has been the subject of a number of recent research reports. KeyCorp dropped their price objective on shares of 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. 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. Truist Financial restated a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $220.00 to $255.00 in a report on Wednesday. Finally, Wells Fargo & Company lifted their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Price Performance

INSP stock opened at $188.73 on Friday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The firm’s 50-day moving average is $199.53 and its 200 day moving average is $175.81. The company has a market capitalization of $5.66 billion, a PE ratio of 176.38 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last issued its 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. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period last year, the company posted ($0.29) earnings per share. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. Sell-side analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

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.