Pekin Hardy Strauss Inc. Makes New $366,000 Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

Pekin Hardy Strauss Inc. acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,800 shares of the company’s stock, valued at approximately $366,000.

Other institutional investors also recently made changes to their positions in the company. FMR LLC lifted its stake in Inspire Medical Systems by 130.1% in the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares during the last quarter. Baillie Gifford & Co. increased its holdings in shares of Inspire Medical Systems by 6,846.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after buying an additional 1,212,175 shares during the period. Wellington Management Group LLP lifted its stake in shares of Inspire Medical Systems by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares during the last quarter. Jennison Associates LLC boosted its holdings in Inspire Medical Systems by 648.2% during the 4th quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock valued at $62,023,000 after acquiring an additional 264,139 shares during the period. Finally, Westfield Capital Management Co. LP grew its position in Inspire Medical Systems by 29.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock worth $145,337,000 after acquiring an additional 168,733 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock valued at $15,664,278 in the last three months. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $241.66 on Wednesday. The stock has a 50 day moving average price of $209.56 and a 200-day moving average price of $187.29. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week 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. The company had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.10 earnings per share. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on INSP shares. Royal Bank of Canada began coverage on Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $210.00 price target on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They set a “buy” rating and a $245.00 price objective for the company. Finally, KeyCorp assumed coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $272.20.

About Inspire Medical Systems

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.