Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Massmutual Trust Co. FSB ADV

Massmutual Trust Co. FSB ADV lessened its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 20.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,291 shares of the company’s stock after selling 2,822 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Inspire Medical Systems were worth $1,511,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of INSP. Principal Securities Inc. acquired a new stake in Inspire Medical Systems in the 4th quarter valued at $54,000. International Assets Investment Management LLC acquired a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $166,000. RiverPark Advisors LLC lifted its stake in Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Inspire Medical Systems during the fourth quarter worth approximately $201,000. Finally, Herold Advisors Inc. acquired a new stake in Inspire Medical Systems during the 4th quarter worth approximately $203,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Bank of America decreased their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research report on Monday, June 3rd. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th. Truist Financial lowered their price target on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Stifel Nicolaus cut their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Finally, Piper Sandler raised their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $226.46.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded up $1.50 during midday trading on Tuesday, reaching $147.01. 504,282 shares of the company traded hands, compared to its average volume of 595,960. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $277.89. The company has a market cap of $4.37 billion, a price-to-earnings ratio of -275.69 and a beta of 1.31. The stock has a 50-day moving average price of $146.55 and a 200 day moving average price of $183.08.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. During the same period last year, the company earned ($0.53) earnings per share. The business’s revenue was up 28.2% compared to the same quarter last year. As a group, analysts expect that Inspire Medical Systems, Inc. will post 0.15 EPS for the current year.

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.