William Blair Investment Management LLC Acquires 13,602 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

William Blair Investment Management LLC increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 770,413 shares of the company’s stock after purchasing an additional 13,602 shares during the quarter. William Blair Investment Management LLC’s holdings in Inspire Medical Systems were worth $103,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp acquired a new position in shares of Inspire Medical Systems in the 2nd quarter valued at $27,000. Principal Securities Inc. bought a new position in Inspire Medical Systems during the fourth quarter worth about $54,000. Daiwa Securities Group Inc. acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth about $53,000. RiverPark Advisors LLC increased its stake in shares of Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after acquiring an additional 605 shares during the last quarter. Finally, Great Lakes Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at approximately $201,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Up 0.2 %

NYSE INSP opened at $203.99 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 $168.99 and its 200-day moving average is $181.09. The company has a market capitalization of $6.08 billion, a PE ratio of -370.89 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. During the same period in the previous year, the business earned ($0.41) EPS. The company’s revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Insider Activity at Inspire Medical Systems

In related 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 transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was 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. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock valued at $1,099,207. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on INSP shares. Robert W. Baird decreased their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Leerink Partners upped their price objective 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. Bank of America dropped their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $214.85.

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.