Kornitzer Capital Management Inc. KS Grows Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Kornitzer Capital Management Inc. KS grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 2.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,240 shares of the company’s stock after buying an additional 1,350 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.17% of Inspire Medical Systems worth $10,603,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of INSP. Van ECK Associates Corp raised its holdings in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after acquiring an additional 72 shares in the last quarter. Amalgamated Bank raised its holdings in Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after acquiring an additional 79 shares in the last quarter. Signaturefd LLC raised its holdings in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after acquiring an additional 92 shares in the last quarter. Finally, Bessemer Group Inc. raised its holdings in Inspire Medical Systems by 1.2% in the first 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 in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 5.3 %

Shares of Inspire Medical Systems stock opened at $200.47 on Friday. The company’s fifty day simple moving average is $201.94 and its 200-day simple moving average is $179.94. The company has a market cap of $5.98 billion, a price-to-earnings ratio of 187.36 and a beta of 1.36. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 EPS 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 return on equity of 5.51% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the business earned ($0.29) earnings per share. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on INSP. Leerink Partners increased their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Truist Financial reissued a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday. KeyCorp dropped their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Four 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 MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus price target of $227.75.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on 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 of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Shawn Mccormick sold 800 shares of the company’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 transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is currently owned by company insiders.

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.