Gilder Gagnon Howe & Co. LLC Increases Stock Holdings in Inspire Medical Systems (NYSE:INSP)

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Gilder Gagnon Howe & Co. LLC increased its holdings in shares of Inspire Medical Systems (NYSE:INSP) by 18.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,103,349 shares of the company’s stock after buying an additional 171,478 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 4.12% of Inspire Medical Systems worth $96,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Inspire Medical Systems by 38.3% in the 2nd quarter. Vanguard Group Inc. now owns 1,209,270 shares of the company’s stock valued at $105,231,000 after purchasing an additional 335,133 shares during the last quarter. Advisor Group Holdings Inc. raised its stake in Inspire Medical Systems by 65.0% in the 2nd quarter. Advisor Group Holdings Inc. now owns 30,266 shares of the company’s stock valued at $2,634,000 after purchasing an additional 11,925 shares during the last quarter. Bellevue Group AG raised its stake in Inspire Medical Systems by 78.0% in the 2nd quarter. Bellevue Group AG now owns 244,250 shares of the company’s stock valued at $21,255,000 after purchasing an additional 107,025 shares during the last quarter. FMR LLC raised its stake in Inspire Medical Systems by 35.7% in the 2nd quarter. FMR LLC now owns 3,991,878 shares of the company’s stock valued at $347,373,000 after purchasing an additional 1,049,959 shares during the last quarter. Finally, Federated Hermes Inc. raised its stake in Inspire Medical Systems by 11.3% in the 2nd quarter. Federated Hermes Inc. now owns 371,120 shares of the company’s stock valued at $32,295,000 after purchasing an additional 37,620 shares during the last quarter.

A number of analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Inspire Medical Systems in a research note on Wednesday, July 15th. They issued a “buy” rating and a $148.00 target price for the company. Robert W. Baird assumed coverage on Inspire Medical Systems in a research note on Tuesday, September 1st. They issued an “outperform” rating and a $130.00 target price for the company. Piper Sandler raised their target price on Inspire Medical Systems from $98.00 to $111.00 in a research note on Wednesday, August 5th. BofA Securities downgraded Inspire Medical Systems from a “buy” rating to a “neutral” rating and set a $115.00 target price for the company. in a research note on Thursday, August 6th. Finally, Stifel Nicolaus raised their target price on Inspire Medical Systems from $110.00 to $125.00 in a research note on Friday, August 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and nine have assigned a buy rating to the stock. Inspire Medical Systems presently has a consensus rating of “Hold” and an average price target of $102.50.

Shares of NYSE:INSP traded down $1.29 during midday trading on Friday, reaching $118.28. 270,473 shares of the company’s stock were exchanged, compared to its average volume of 274,580. The firm’s 50 day simple moving average is $107.09 and its two-hundred day simple moving average is $84.06. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of -52.11 and a beta of 1.39. Inspire Medical Systems has a fifty-two week low of $40.53 and a fifty-two week high of $126.45. The company has a debt-to-equity ratio of 0.11, a current ratio of 20.48 and a quick ratio of 19.72.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, August 4th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.08) by $0.20. The firm had revenue of $12.18 million during the quarter, compared to analysts’ expectations of $31.06 million. Inspire Medical Systems had a negative return on equity of 35.04% and a negative net margin of 69.69%. The firm’s revenue was down 32.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.32) earnings per share. Equities research analysts predict that Inspire Medical Systems will post -2.75 earnings per share for the current fiscal year.

In other news, Director Casey M. Tansey sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $84.04, for a total value of $8,404,000.00. Following the transaction, the director now owns 124,730 shares of the company’s stock, valued at $10,482,309.20. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Steven Jandrich sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $110.00, for a total value of $330,000.00. Following the completion of the transaction, the vice president now directly owns 3,818 shares in the company, valued at approximately $419,980. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 469,714 shares of company stock worth $47,657,721. 6.60% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Company 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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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