Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Jennison Associates LLC

Jennison Associates LLC lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 648.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 304,886 shares of the company’s stock after purchasing an additional 264,139 shares during the quarter. Jennison Associates LLC owned about 1.03% of Inspire Medical Systems worth $62,023,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Handelsbanken Fonder AB lifted its position in shares of Inspire Medical Systems by 3.6% during the fourth quarter. Handelsbanken Fonder AB now owns 5,700 shares of the company’s stock worth $1,160,000 after purchasing an additional 200 shares in the last quarter. abrdn plc purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth approximately $9,350,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Inspire Medical Systems by 103.1% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 6,536 shares of the company’s stock worth $1,330,000 after buying an additional 3,318 shares during the period. Cornerstone Investment Partners LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth approximately $207,000. Finally, Calamos Advisors LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth approximately $1,929,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on INSP shares. KeyCorp started coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 6th. They set an “overweight” rating and a $278.00 target price on the stock. Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 target price on the stock. Mizuho reiterated a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Morgan Stanley began coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.20.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares of the company’s stock, valued at $551,308.29. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Jerry C. Griffin sold 554 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock valued at $15,664,278 over the last three months. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $234.11 on Wednesday. The company’s 50 day simple moving average is $205.03 and its 200-day simple moving average is $184.73. Inspire Medical Systems, Inc. has a 12-month low of $123.27 and a 12-month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. As a group, analysts expect that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Inspire Medical Systems 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.