Rhumbline Advisers lifted its stake in Inspire Medical Systems (NASDAQ:INSP) by 24.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 18,826 shares of the company’s stock after acquiring an additional 3,642 shares during the quarter. Rhumbline Advisers owned 0.08% of Inspire Medical Systems worth $1,069,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Teachers Advisors LLC raised its holdings in shares of Inspire Medical Systems by 10.0% in the 3rd quarter. Teachers Advisors LLC now owns 16,461 shares of the company’s stock valued at $693,000 after purchasing an additional 1,497 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 349,092 shares of the company’s stock valued at $14,690,000 after buying an additional 8,499 shares during the last quarter. First Mercantile Trust Co. grew its position in shares of Inspire Medical Systems by 71.1% in the 4th quarter. First Mercantile Trust Co. now owns 3,522 shares of the company’s stock valued at $149,000 after buying an additional 1,464 shares during the last quarter. TD Asset Management Inc. purchased a new position in shares of Inspire Medical Systems in the 4th quarter valued at $404,000. Finally, Cutler Group LP purchased a new position in shares of Inspire Medical Systems in the 4th quarter valued at $92,000.
Inspire Medical Systems stock traded up $1.63 during midday trading on Monday, hitting $62.28. 423,307 shares of the company’s stock were exchanged, compared to its average volume of 332,161. Inspire Medical Systems has a 12-month low of $35.35 and a 12-month high of $64.34. The business has a 50 day moving average price of $55.86.
In related news, Director Joyce Erony sold 39,379 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $54.52, for a total value of $2,146,943.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Timothy P. Herbert sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 25th. The shares were sold at an average price of $58.71, for a total transaction of $1,467,750.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 467,074 shares of company stock valued at $25,094,305.
Separately, 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.
Inspire Medical Systems Company 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). 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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