Versor Investments LP Sells 2,497 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Versor Investments LP lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 31.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,511 shares of the company’s stock after selling 2,497 shares during the period. Versor Investments LP’s holdings in Inspire Medical Systems were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $27,000. Farther Finance Advisors LLC raised its position in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC raised its position in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the period. Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $53,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

INSP opened at $202.04 on Tuesday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm’s fifty day moving average price is $202.62 and its two-hundred day moving average price is $179.12. The company has a market capitalization of $6.06 billion, a P/E ratio of 188.82 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share 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 firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the company earned ($0.29) earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Activity

In other news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders have sold 5,692 shares of company stock worth $1,099,207. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of recent analyst reports. Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Leerink Partners lifted their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. KeyCorp lowered their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised 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. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.