Brown Capital Management LLC Trims Position in Inspire Medical Systems, Inc. $INSP

Brown Capital Management LLC decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 24.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 278,040 shares of the company’s stock after selling 89,401 shares during the quarter. Brown Capital Management LLC’s holdings in Inspire Medical Systems were worth $20,631,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in INSP. Dragoneer Investment Group LLC lifted its position in shares of Inspire Medical Systems by 81.4% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after purchasing an additional 1,056,808 shares during the period. Frontier Capital Management Co. LLC increased its stake in shares of Inspire Medical Systems by 59.9% during the second quarter. Frontier Capital Management Co. LLC now owns 693,203 shares of the company’s stock valued at $89,957,000 after purchasing an additional 259,716 shares in the last quarter. Man Group plc lifted its holdings in shares of Inspire Medical Systems by 192.9% during the second quarter. Man Group plc now owns 380,298 shares of the company’s stock valued at $49,351,000 after purchasing an additional 250,456 shares during the last quarter. Norges Bank bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $31,066,000. Finally, Braidwell LP grew its stake in shares of Inspire Medical Systems by 72.7% in the 2nd quarter. Braidwell LP now owns 522,410 shares of the company’s stock worth $67,793,000 after buying an additional 220,000 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSP. Zacks Research upgraded Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. KeyCorp reissued a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research note on Monday, December 29th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price target (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Finally, Mizuho lifted their target price on Inspire Medical Systems from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $133.47.

Inspire Medical Systems Trading Down 2.8%

Shares of INSP opened at $73.64 on Tuesday. The firm has a fifty day simple moving average of $104.68 and a two-hundred day simple moving average of $94.43. The firm has a market cap of $2.14 billion, a PE ratio of 50.09, a P/E/G ratio of 7.64 and a beta of 0.74. Inspire Medical Systems, Inc. has a 1-year low of $70.77 and a 1-year high of $203.12.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.53. The company had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.Inspire Medical Systems’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.