Connor Clark & Lunn Investment Management Ltd. Grows Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 80.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 146,244 shares of the company’s stock after purchasing an additional 65,147 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.49% of Inspire Medical Systems worth $30,865,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD raised its position in Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock valued at $98,754,000 after purchasing an additional 156,893 shares in the last quarter. Tidal Investments LLC bought a new stake in shares of Inspire Medical Systems in the 1st quarter worth approximately $1,151,000. AQR Capital Management LLC lifted its position in Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after purchasing an additional 140,090 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its position in Inspire Medical Systems by 27.1% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 40,501 shares of the company’s stock valued at $8,699,000 after buying an additional 8,625 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Inspire Medical Systems by 114.2% in the second quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock valued at $833,000 after acquiring an additional 3,321 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Trading Up 5.0 %

NYSE INSP opened at $184.88 on Thursday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock’s fifty day moving average price is $200.62 and its 200-day moving average price is $176.11. The stock has a market cap of $5.54 billion, a P/E ratio of 172.78 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.29) EPS. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on INSP. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $255.00 in a research note on Wednesday. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp reduced their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Finally, Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

Insider Activity

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

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.