Cornerstone Investment Partners LLC Invests $207,000 in Inspire Medical Systems, Inc. (NYSE:INSP)

Cornerstone Investment Partners LLC acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,016 shares of the company’s stock, valued at approximately $207,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 72.8% during the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares in the last quarter. OPTIMAS CAPITAL Ltd acquired a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $3,861,000. Seven Eight Capital LP acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at about $1,558,000. Charles Schwab Investment Management Inc. boosted its position in shares of Inspire Medical Systems by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 256,222 shares of the company’s stock valued at $50,845,000 after acquiring an additional 7,838 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its position in shares of Inspire Medical Systems by 29.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 40,200 shares of the company’s stock valued at $7,977,000 after acquiring an additional 9,200 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INSP shares. Truist Financial reiterated a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. KeyCorp started coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target on the stock. Mizuho restated a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Finally, Royal Bank of Canada started coverage on shares of Inspire Medical Systems in a research report on Friday. They issued an “outperform” rating and a $285.00 price target on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $272.20.

Inspire Medical Systems Stock Down 4.9 %

Shares of NYSE:INSP opened at $229.26 on Friday. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00. The company has a 50 day moving average price of $203.53 and a two-hundred day moving average price of $184.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same quarter in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 39.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the transaction, the director now owns 9,744 shares in the company, valued at $1,929,799.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the transaction, the director now owns 9,744 shares in the company, valued at $1,929,799.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO John Rondoni sold 4,387 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $194.40, for a total transaction of $852,832.80. Following the transaction, the chief technology officer now owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock valued at $15,664,278 over the last quarter. 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.