Inspire Medical Systems, Inc. (NYSE:INSP) Insider Sells $4,694,664.00 in Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 25,584 shares of the business’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Inspire Medical Systems Stock Down 0.2 %

Shares of NYSE INSP opened at $178.36 on Friday. The business’s 50 day moving average price is $188.37 and its two-hundred day moving average price is $192.80. The company has a market cap of $5.29 billion, a PE ratio of 103.10, a price-to-earnings-growth ratio of 2.89 and a beta of 1.32. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in INSP. Dragoneer Investment Group LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter valued at approximately $161,486,000. State Street Corp grew its position in shares of Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter valued at approximately $80,419,000. Point72 Asset Management L.P. grew its position in shares of Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after purchasing an additional 289,075 shares during the last quarter. Finally, Marshall Wace LLP grew its position in shares of Inspire Medical Systems by 1,775.3% in the fourth quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock valued at $51,375,000 after purchasing an additional 262,353 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Ratings Changes

INSP has been the topic of several analyst reports. Wells Fargo & Company dropped their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Piper Sandler dropped their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Truist Financial dropped their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $228.82.

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.