Teachers Retirement System of The State of Kentucky Buys 8,625 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Teachers Retirement System of The State of Kentucky grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 27.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,501 shares of the company’s stock after acquiring an additional 8,625 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.14% of Inspire Medical Systems worth $8,699,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. bought a new stake in Inspire Medical Systems in the 4th quarter worth about $54,000. International Assets Investment Management LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth about $166,000. RiverPark Advisors LLC increased its holdings in Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth about $201,000. Finally, Herold Advisors Inc. bought a new stake in Inspire Medical Systems in the 4th quarter worth about $203,000. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Price Performance

Shares of INSP stock traded up $4.52 during trading hours on Friday, reaching $149.63. 1,039,011 shares of the company traded hands, compared to its average volume of 560,626. The firm has a 50-day moving average price of $146.81 and a 200 day moving average price of $183.45. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $287.96. The company has a market cap of $4.45 billion, a P/E ratio of -272.05 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The company had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. During the same period in the previous year, the firm earned ($0.53) EPS. The firm’s revenue was up 28.2% compared to the same quarter last year. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 0.15 EPS for the current year.

Analyst Ratings Changes

INSP has been the topic of several research reports. Bank of America dropped their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Truist Financial dropped their target price on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Piper Sandler raised their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Finally, Morgan Stanley dropped their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $226.46.

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.