Connor Clark & Lunn Investment Management Ltd. Buys 31,344 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 21.4% during the 4th quarter, HoldingsChannel reports. The firm owned 177,588 shares of the company’s stock after acquiring an additional 31,344 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Inspire Medical Systems were worth $32,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. First Horizon Advisors Inc. boosted its position in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the period. True Wealth Design LLC acquired a new stake in Inspire Medical Systems during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its position in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the period. AlphaQuest LLC lifted its position in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after purchasing an additional 291 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares during the period. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on INSP. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler dropped their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Truist Financial dropped their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company dropped their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Finally, Robert W. Baird dropped their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $228.82.

Inspire Medical Systems Trading Down 5.7 %

Shares of INSP stock opened at $163.01 on Thursday. The firm has a market capitalization of $4.84 billion, a PE ratio of 94.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The firm has a fifty day simple moving average of $186.26 and a two-hundred day simple moving average of $192.40. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock worth $4,806,530 in the last quarter. 4.10% of the stock is currently owned by corporate 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.