Arizona State Retirement System Lowers Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Arizona State Retirement System reduced its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,201 shares of the company’s stock after selling 105 shares during the quarter. Arizona State Retirement System’s holdings in Inspire Medical Systems were worth $1,668,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of INSP. OPTIMAS CAPITAL Ltd acquired a new stake in Inspire Medical Systems in the fourth quarter valued at about $3,861,000. Miracle Mile Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at approximately $203,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Inspire Medical Systems in the fourth quarter valued at approximately $27,000. Raymond James Financial Services Advisors Inc. grew its holdings in Inspire Medical Systems by 18.7% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 3,382 shares of the company’s stock worth $688,000 after acquiring an additional 533 shares during the period. Finally, Legato Capital Management LLC purchased a new position in Inspire Medical Systems in the fourth quarter worth $221,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on INSP shares. Truist Financial restated a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target for the company. KeyCorp assumed coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target on the stock. Finally, Jefferies Financial Group initiated coverage on Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.29.

Insiders Place Their Bets

In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CEO Timothy P. Herbert sold 40,000 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares in the company, valued at $13,055,619.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders have sold 61,371 shares of company stock valued at $12,213,828 in the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $231.64 on Friday. The business’s fifty day moving average price is $201.18 and its two-hundred day moving average price is $182.72. The stock has a market cap of $7.02 billion, a PE ratio of -313.03 and a beta of 1.37. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business’s revenue was up 39.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.10 earnings per share. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Inspire Medical Systems 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.