Connor Clark & Lunn Investment Management Ltd. Purchases 65,147 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 80.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 146,244 shares of the company’s stock after purchasing an additional 65,147 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Inspire Medical Systems were worth $30,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Bank of New York Mellon Corp grew its holdings 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 purchasing an additional 192,238 shares during the period. William Blair Investment Management LLC lifted its position 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 valued at $103,104,000 after buying an additional 13,602 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 period. Allspring Global Investments Holdings LLC increased its stake in Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after buying an additional 238,034 shares in the last quarter. Finally, AQR Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after acquiring an additional 140,090 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the topic of several recent analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and issued a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp reduced 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. Wells Fargo & Company lifted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Finally, Leerink Partners upped their price objective on 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. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $184.88 on Thursday. The firm’s 50 day simple moving average is $200.62 and its 200-day simple moving average is $176.11. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The firm has a market cap of $5.54 billion, a PE ratio of 172.78 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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 company had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the firm earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. Equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the company’s 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 sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This represents a 3.34 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Insiders own 4.10% of the company’s stock.

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.