Traynor Capital Management Inc. Invests $264,000 in Inspire Medical Systems, Inc. (NYSE:INSP)

Traynor Capital Management Inc. bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 1,250 shares of the company’s stock, valued at approximately $264,000.

Several other large investors have also modified their holdings of the stock. Diversified Trust Co boosted its holdings in Inspire Medical Systems by 26.6% in the first quarter. Diversified Trust Co now owns 5,471 shares of the company’s stock worth $1,175,000 after purchasing an additional 1,150 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Inspire Medical Systems during the 1st quarter valued at about $3,113,000. BNP Paribas Financial Markets raised its stake in Inspire Medical Systems by 89.4% during the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock worth $493,000 after acquiring an additional 1,084 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in Inspire Medical Systems by 32.8% in the first quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock worth $329,000 after acquiring an additional 378 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on INSP shares. Leerink Partners increased their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. KeyCorp reduced their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Robert W. Baird reduced their target price on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $219.58.

Inspire Medical Systems Stock Up 2.3 %

Shares of Inspire Medical Systems stock opened at $199.10 on Wednesday. The business has a fifty day simple moving average of $200.73 and a 200-day simple moving average of $181.02. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market cap of $5.92 billion, a price-to-earnings ratio of -362.00 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the company earned ($0.41) EPS. Inspire Medical Systems’s revenue was up 29.6% on a year-over-year basis. Analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the firm’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 completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,692 shares of company stock valued at $1,099,207. 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.