TimesSquare Capital Management LLC Has $75.85 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

TimesSquare Capital Management LLC boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 9.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 476,217 shares of the company’s stock after purchasing an additional 42,411 shares during the quarter. Inspire Medical Systems makes up approximately 1.2% of TimesSquare Capital Management LLC’s investment portfolio, making the stock its 23rd biggest position. TimesSquare Capital Management LLC’s holdings in Inspire Medical Systems were worth $75,852,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its holdings in Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after buying an additional 55 shares in the last quarter. Captrust Financial Advisors lifted its holdings in Inspire Medical Systems by 2.0% during the 4th quarter. Captrust Financial Advisors now owns 3,034 shares of the company’s stock worth $562,000 after buying an additional 59 shares in the last quarter. MML Investors Services LLC lifted its holdings in Inspire Medical Systems by 0.9% during the 4th quarter. MML Investors Services LLC now owns 7,941 shares of the company’s stock worth $1,472,000 after buying an additional 67 shares in the last quarter. Mariner LLC lifted its holdings in Inspire Medical Systems by 1.6% during the 4th quarter. Mariner LLC now owns 4,837 shares of the company’s stock worth $897,000 after buying an additional 77 shares in the last quarter. Finally, Xponance Inc. lifted its holdings in Inspire Medical Systems by 2.2% during the 4th quarter. Xponance Inc. now owns 3,824 shares of the company’s stock worth $709,000 after buying an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Royal Bank Of Canada dropped their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen upgraded shares of Inspire Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Wells Fargo & Company dropped 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 report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. dropped 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 report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $211.91.

Inspire Medical Systems Stock Down 6.3%

INSP opened at $130.48 on Monday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00. The company has a fifty day simple moving average of $139.08 and a 200 day simple moving average of $161.29. The stock has a market cap of $3.85 billion, a P/E ratio of 60.13, a P/E/G ratio of 1.99 and a beta of 1.25.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The business had revenue of $201.32 million during the quarter, compared to analysts’ expectations of $194.89 million. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm’s quarterly 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.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director owned 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.30% of the company’s stock.

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.