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 Inspire Medical Systems stock in a transaction on 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 $1,332,026.50. This represents a 77.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Inspire Medical Systems Stock Down 2.9 %

Inspire Medical Systems stock traded down $5.33 during midday trading on Tuesday, reaching $180.28. The company’s stock had a trading volume of 452,662 shares, compared to its average volume of 621,076. The company has a market cap of $5.40 billion, a P/E ratio of 168.49 and a beta of 1.32. The business has a 50-day simple moving average of $188.85 and a 200-day simple moving average of $192.69. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, equities analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Several large investors have recently bought and sold shares of the stock. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at about $1,929,000. Thrivent Financial for Lutherans lifted its stake in Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock valued at $23,337,000 after buying an additional 31,444 shares during the last quarter. Merit Financial Group LLC acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $313,000. Allspring Global Investments Holdings LLC grew its position in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after acquiring an additional 238,034 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on INSP. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Truist Financial lowered their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird cut their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Finally, Morgan Stanley dropped their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

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.