Bamco Inc. NY Has $71.61 Million Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Bamco Inc. NY decreased its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 339,300 shares of the company’s stock after selling 8,000 shares during the quarter. Bamco Inc. NY owned approximately 1.13% of Inspire Medical Systems worth $71,609,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC increased its position in shares of Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after buying an additional 192,238 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after buying an additional 140,090 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Inspire Medical Systems by 82.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock worth $51,269,000 after acquiring an additional 117,819 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related 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 sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by insiders.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $192.76 on Monday. The firm has a fifty day moving average of $197.96 and a two-hundred day moving average of $176.45. The stock has a market capitalization of $5.78 billion, a price-to-earnings ratio of 180.15 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Piper Sandler reissued an “overweight” rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $233.58.

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.