Wasatch Advisors Inc. Raises Holdings in Inspire Medical Systems (INSP)

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Wasatch Advisors Inc. boosted its holdings in shares of Inspire Medical Systems (NASDAQ:INSP) by 40.5% during the 1st quarter, Holdings Channel reports. The firm owned 214,284 shares of the company’s stock after purchasing an additional 61,722 shares during the period. Wasatch Advisors Inc.’s holdings in Inspire Medical Systems were worth $12,167,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of INSP. Capital Financial Planning LLC purchased a new position in Inspire Medical Systems during the 4th quarter worth $27,000. Great West Life Assurance Co. Can purchased a new position in Inspire Medical Systems during the 4th quarter worth $50,000. Legal & General Group Plc grew its position in Inspire Medical Systems by 57.7% during the 4th quarter. Legal & General Group Plc now owns 1,843 shares of the company’s stock worth $78,000 after purchasing an additional 674 shares during the last quarter. Cutler Group LP purchased a new position in Inspire Medical Systems during the 4th quarter worth $92,000. Finally, Citigroup Inc. grew its position in Inspire Medical Systems by 46.2% during the 4th quarter. Citigroup Inc. now owns 3,145 shares of the company’s stock worth $133,000 after purchasing an additional 994 shares during the last quarter.

INSP has been the topic of several research reports. Dougherty & Co initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 5th. They set a “buy” rating and a $64.00 price objective on the stock. Zacks Investment Research downgraded shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, March 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.56.

Shares of NASDAQ:INSP traded up $0.52 during midday trading on Friday, hitting $53.81. The stock had a trading volume of 371 shares, compared to its average volume of 333,328. Inspire Medical Systems has a 1 year low of $27.30 and a 1 year high of $64.34.

Inspire Medical Systems (NASDAQ:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.35) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.39) by $0.04. The firm had revenue of $16.30 million during the quarter, compared to analysts’ expectations of $17.79 million. The firm’s revenue for the quarter was up 63.0% compared to the same quarter last year.

In other news, Director Casey M. Tansey sold 25,000 shares of Inspire Medical Systems stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $54.78, for a total value of $1,369,500.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard Buchholz sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $56.25, for a total transaction of $112,500.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 334,453 shares of company stock worth $17,760,553.

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

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