Price T Rowe Associates Inc. MD lowered its holdings in shares of Inspire Medical Systems (NYSE:INSP) by 97.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,775 shares of the company’s stock after selling 684,816 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Inspire Medical Systems were worth $1,260,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in the business. Invesco Ltd. raised its stake in shares of Inspire Medical Systems by 279.8% in the 2nd quarter. Invesco Ltd. now owns 965,710 shares of the company’s stock worth $58,570,000 after buying an additional 711,435 shares in the last quarter. Wasatch Advisors Inc. raised its stake in shares of Inspire Medical Systems by 217.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 680,874 shares of the company’s stock worth $41,295,000 after buying an additional 466,590 shares in the last quarter. BlackRock Inc. raised its stake in shares of Inspire Medical Systems by 43.5% in the 2nd quarter. BlackRock Inc. now owns 1,406,301 shares of the company’s stock worth $85,293,000 after buying an additional 426,425 shares in the last quarter. Columbus Circle Investors raised its stake in shares of Inspire Medical Systems by 171.7% in the 2nd quarter. Columbus Circle Investors now owns 635,211 shares of the company’s stock worth $38,526,000 after buying an additional 401,457 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its stake in shares of Inspire Medical Systems by 41.4% in the 2nd quarter. TimesSquare Capital Management LLC now owns 513,265 shares of the company’s stock worth $31,130,000 after buying an additional 150,300 shares in the last quarter. 82.94% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Randy Ban sold 10,000 shares of Inspire Medical Systems stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $61.62, for a total transaction of $616,200.00. Also, CEO Timothy P. Herbert sold 15,000 shares of Inspire Medical Systems stock in a transaction on Tuesday, July 23rd. The shares were sold at an average price of $66.95, for a total value of $1,004,250.00. The disclosure for this sale can be found here. Insiders sold a total of 418,402 shares of company stock worth $28,191,667 over the last 90 days. Insiders own 12.10% of the company’s stock.
Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported ($0.32) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.45) by $0.13. The business had revenue of $18.03 million for the quarter, compared to analysts’ expectations of $21.26 million. Inspire Medical Systems had a negative return on equity of 17.75% and a negative net margin of 39.73%. The company’s quarterly revenue was up 64.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.43) EPS. As a group, analysts anticipate that Inspire Medical Systems will post -1.55 earnings per share for the current year.
A number of research firms have recently commented on INSP. Dougherty & Co set a $78.00 price objective on Inspire Medical Systems and gave the stock a “buy” rating in a research note on Friday, September 27th. Zacks Investment Research upgraded Inspire Medical Systems from a “sell” rating to a “hold” rating in a report on Saturday, August 3rd. Finally, Bank of America restated a “neutral” rating and issued a $75.00 target price (up from $65.00) on shares of Inspire Medical Systems in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Inspire Medical Systems has an average rating of “Hold” and an average target price of $60.00.
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). 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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