Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 14.0% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,408 shares of the company’s stock after acquiring an additional 785 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Inspire Medical Systems were worth $1,304,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Sentry Investment Management LLC acquired a new stake in shares of Inspire Medical Systems during the 4th quarter worth about $479,000. Sumitomo Mitsui Trust Holdings Inc. acquired a new position in Inspire Medical Systems during the fourth quarter worth approximately $1,271,000. Valeo Financial Advisors LLC increased its position in Inspire Medical Systems by 25.0% during the fourth quarter. Valeo Financial Advisors LLC now owns 5,591 shares of the company’s stock worth $1,137,000 after buying an additional 1,119 shares during the period. Baillie Gifford & Co. increased its position in Inspire Medical Systems by 6,846.9% during the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after buying an additional 1,212,175 shares during the period. Finally, International Assets Investment Management LLC acquired a new position in Inspire Medical Systems during the fourth quarter worth approximately $166,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Buying and Selling

In related news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems 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 completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction on Monday, April 1st. The stock was 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 directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 12,230 shares of the business’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the transaction, the insider now directly owns 3,029 shares of the company’s stock, valued at $561,485.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,371 shares of company stock valued at $15,664,278. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Morgan Stanley started coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price on the stock. KeyCorp started coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 target price on the stock. Truist Financial reiterated a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group started coverage on Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 target price on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $272.20.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $237.45 on Friday. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00. The company has a market cap of $7.19 billion, a PE ratio of -320.88 and a beta of 1.37. The stock’s 50 day moving average price is $207.54 and its 200 day moving average price is $185.82.

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, topping the consensus estimate of ($0.04) by $0.53. The firm had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s revenue was up 39.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.10 earnings per share. On average, equities research analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal 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.