Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni Sells 58 Shares

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 58 shares of Inspire Medical Systems stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $215.00, for a total value of $12,470.00. Following the completion of the sale, the chief technology officer now owns 11,322 shares of the company’s stock, valued at $2,434,230. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Inspire Medical Systems Trading Down 5.1 %

Shares of INSP stock opened at $203.03 on Friday. The firm has a fifty day simple moving average of $191.71 and a 200-day simple moving average of $183.39. The company has a market capitalization of $6.08 billion, a PE ratio of 189.75 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the prior year, the company posted ($0.29) EPS. The firm’s revenue for the quarter was up 32.6% on a year-over-year basis. Equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Amalgamated Bank grew its position in shares of Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after buying an additional 79 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after acquiring an additional 79 shares during the last quarter. Signaturefd LLC grew its holdings in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company increased its position in shares of Inspire Medical Systems by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after purchasing an additional 92 shares during the last quarter. Finally, Quarry LP raised its stake in shares of Inspire Medical Systems by 30.9% in the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after purchasing an additional 106 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INSP. Piper Sandler restated an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Truist Financial reaffirmed a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Robert W. Baird lifted their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

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) 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.