Graham Capital Management L.P. Takes $274,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Graham Capital Management L.P. purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,478 shares of the company’s stock, valued at approximately $274,000.

A number of other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after purchasing an additional 38,219 shares in the last quarter. Dragoneer Investment Group LLC purchased a new position in shares of Inspire Medical Systems during the 4th quarter valued at $161,486,000. Invesco Ltd. lifted its holdings in shares of Inspire Medical Systems by 14.3% during the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock worth $147,021,000 after acquiring an additional 99,030 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock worth $90,188,000 after acquiring an additional 2,687 shares during the last quarter. Finally, TimesSquare Capital Management LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth $80,419,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Shawn Mccormick sold 360 shares of the company’s stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director now directly owns 24,046 shares of the company’s stock, valued at approximately $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.30% of the company’s stock.

Inspire Medical Systems Stock Up 2.0%

Inspire Medical Systems stock opened at $152.66 on Friday. The company has a market capitalization of $4.50 billion, a PE ratio of 88.24, a P/E/G ratio of 2.86 and a beta of 1.39. The firm has a fifty day simple moving average of $155.46 and a two-hundred day simple moving average of $176.77. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Stifel Nicolaus dropped their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Royal Bank of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Finally, Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. 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 stock currently has an average rating of “Moderate Buy” and an average price target of $211.91.

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.