Inspire Medical Systems, Inc. $INSP Shares Newly Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 639,584 shares of the company’s stock, valued at approximately $44,362,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC raised its holdings in Inspire Medical Systems by 1,115.4% during the first quarter. EverSource Wealth Advisors LLC now owns 632 shares of the company’s stock worth $33,000 after acquiring an additional 580 shares in the last quarter. Sterling Capital Management LLC boosted its position in Inspire Medical Systems by 450.6% during the third quarter. Sterling Capital Management LLC now owns 914 shares of the company’s stock valued at $63,000 after purchasing an additional 748 shares during the last quarter. Versant Capital Management Inc boosted its position in Inspire Medical Systems by 379.0% during the second quarter. Versant Capital Management Inc now owns 958 shares of the company’s stock valued at $43,000 after purchasing an additional 758 shares during the last quarter. Pinnacle Wealth Planning Services Inc. grew its stake in Inspire Medical Systems by 19.8% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,172 shares of the company’s stock valued at $81,000 after purchasing an additional 194 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Inspire Medical Systems by 68.5% in the third quarter. Nisa Investment Advisors LLC now owns 1,200 shares of the company’s stock valued at $83,000 after purchasing an additional 488 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 1.0%

Shares of INSP stock traded up $0.62 on Friday, reaching $61.16. The stock had a trading volume of 574,396 shares, compared to its average volume of 699,525. The firm’s 50-day moving average is $68.94 and its two-hundred day moving average is $57.69. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 17.78, a P/E/G ratio of 4.43 and a beta of 0.67. Inspire Medical Systems, Inc. has a 12 month low of $38.91 and a 12 month high of $147.03.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 2nd. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.05. Inspire Medical Systems had a net margin of 11.43% and a return on equity of 7.32%. The business had revenue of $206.69 million during the quarter, compared to the consensus estimate of $204.31 million. During the same period last year, the business posted $0.38 EPS. Inspire Medical Systems’s revenue was down 7.9% on a year-over-year basis. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Truist Financial reaffirmed a “hold” rating and set a $76.00 price target (down from $78.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 3rd. Piper Sandler increased their price objective on Inspire Medical Systems from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, November 3rd. Oppenheimer raised Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $85.00 price objective for the company in a report on Tuesday, August 4th. Mizuho set a $75.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, October 13th. Finally, Weiss Ratings downgraded shares of Inspire Medical Systems from a “hold (c-)” rating to a “sell (d+)” rating in a report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, twelve have issued a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $71.24.

About Inspire Medical Systems

Inspire Medical Systems is a medical technology company focused on treatments for obstructive sleep apnea, a condition in which breathing repeatedly stops or becomes restricted during sleep. Founded in 2007 and based in Minnesota, the company develops implantable devices intended for certain patients who cannot use or benefit from conventional positive airway pressure therapy. Its primary product, the Inspire Upper Airway Stimulation system, uses an implanted device to monitor breathing and deliver mild stimulation to the hypoglossal nerve, helping keep the airway open during sleep.