Dragoneer Investment Group LLC Has $305.53 Million Stake in Inspire Medical Systems, Inc. $INSP

Dragoneer Investment Group LLC increased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 81.4% during the second quarter, Holdings Channel reports. The firm owned 2,354,411 shares of the company’s stock after buying an additional 1,056,808 shares during the quarter. Inspire Medical Systems makes up approximately 6.2% of Dragoneer Investment Group LLC’s portfolio, making the stock its 7th largest holding. Dragoneer Investment Group LLC owned about 0.08% of Inspire Medical Systems worth $305,532,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Inspire Medical Systems by 214.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company’s stock worth $177,267,000 after buying an additional 759,090 shares during the last quarter. State Street Corp lifted its position in shares of Inspire Medical Systems by 2.3% in the second quarter. State Street Corp now owns 1,030,902 shares of the company’s stock valued at $133,780,000 after buying an additional 22,843 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Inspire Medical Systems by 8.3% during the 1st quarter. Invesco Ltd. now owns 858,572 shares of the company’s stock worth $136,753,000 after acquiring an additional 65,492 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Inspire Medical Systems by 11.0% during the 2nd quarter. William Blair Investment Management LLC now owns 769,169 shares of the company’s stock worth $99,815,000 after acquiring an additional 76,251 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Inspire Medical Systems by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 512,836 shares of the company’s stock valued at $66,562,000 after acquiring an additional 1,627 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $143.89 on Tuesday. Inspire Medical Systems, Inc. has a 52 week low of $70.77 and a 52 week high of $216.01. The firm’s 50-day simple moving average is $91.42 and its 200 day simple moving average is $104.38. The firm has a market cap of $4.18 billion, a price-to-earnings ratio of 97.88, a P/E/G ratio of 15.76 and a beta of 0.69.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm had revenue of $224.50 million for the quarter, compared to analyst estimates of $220.39 million. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was up 10.5% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems announced that its board has initiated a stock repurchase program on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 8.6% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director owned 26,046 shares in the company, valued at $3,320,344.08. This trade represents a 7.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have commented on INSP. Stifel Nicolaus set a $110.00 price objective on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research report on Monday, November 24th. Wolfe Research upgraded shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research note on Tuesday, November 25th. Morgan Stanley reiterated an “equal weight” rating and issued a $130.00 price target (up previously from $105.00) on shares of Inspire Medical Systems in a research note on Tuesday, December 2nd. Truist Financial upgraded shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and raised their price objective for the stock from $128.00 to $165.00 in a research report on Wednesday, November 26th. Finally, Oppenheimer upgraded Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $132.65.

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.