Congress Asset Management Co. Acquires 299,949 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Congress Asset Management Co. boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 3,943.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 307,555 shares of the company’s stock after buying an additional 299,949 shares during the period. Congress Asset Management Co.’s holdings in Inspire Medical Systems were worth $48,987,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Lmcg Investments LLC raised its stake in Inspire Medical Systems by 3.6% during the 1st quarter. Lmcg Investments LLC now owns 27,840 shares of the company’s stock valued at $4,434,000 after buying an additional 972 shares during the last quarter. Parallel Advisors LLC raised its stake in Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock valued at $33,000 after buying an additional 164 shares during the last quarter. GAMMA Investing LLC raised its stake in Inspire Medical Systems by 56,237.7% during the 1st quarter. GAMMA Investing LLC now owns 91,267 shares of the company’s stock valued at $145,370,000 after buying an additional 91,105 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in Inspire Medical Systems by 37.9% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 10,760 shares of the company’s stock valued at $1,995,000 after buying an additional 2,960 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in Inspire Medical Systems during the 4th quarter valued at $945,000. 94.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the sale, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $135.76 on Friday. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 78.47, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $225.00. The business has a fifty day moving average price of $149.10 and a 200-day moving average price of $171.84.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The firm had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. During the same period in the prior year, the business posted ($0.34) EPS. Inspire Medical Systems’s revenue was up 22.7% on a year-over-year basis. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSP has been the subject of a number of research reports. Truist Financial decreased their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. KeyCorp decreased their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Piper Sandler decreased their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Wells Fargo & Company decreased their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a research note on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $211.91.

About Inspire Medical Systems

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.