3,272 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Purchased by New York Life Investment Management LLC

New York Life Investment Management LLC acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the 4th quarter, HoldingsChannel reports. The firm acquired 3,272 shares of the company’s stock, valued at approximately $666,000.

Other large investors also recently modified their holdings of the company. Commonwealth Equity Services LLC raised its holdings in shares of Inspire Medical Systems by 5.5% in the third quarter. Commonwealth Equity Services LLC now owns 7,253 shares of the company’s stock valued at $1,439,000 after purchasing an additional 381 shares during the last quarter. Raymond James & Associates grew its holdings in shares of Inspire Medical Systems by 10.8% in the third quarter. Raymond James & Associates now owns 5,767 shares of the company’s stock valued at $1,144,000 after acquiring an additional 564 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Inspire Medical Systems by 47.9% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 2,849 shares of the company’s stock valued at $565,000 after acquiring an additional 923 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Inspire Medical Systems by 52.1% during the third quarter. Bank of New York Mellon Corp now owns 373,794 shares of the company’s stock worth $74,176,000 after acquiring an additional 128,078 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Inspire Medical Systems by 15.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,623 shares of the company’s stock worth $1,116,000 after purchasing an additional 754 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Insider Activity

In related news, Director Jerry C. Griffin sold 554 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $198.05, for a total value of $109,719.70. Following the transaction, the director now owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction dated 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 sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. In the last 90 days, insiders sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Trading Down 33.0 %

INSP stock opened at $164.47 on Thursday. The firm has a 50 day moving average of $215.68 and a 200-day moving average of $190.38. The firm has a market capitalization of $4.98 billion, a P/E ratio of -222.26 and a beta of 1.35. Inspire Medical Systems, Inc. has a 12 month low of $123.27 and a 12 month high of $330.00.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The company had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. During the same quarter last year, the business posted ($0.53) earnings per share. The firm’s revenue was up 28.2% compared to the same quarter last year. Sell-side analysts predict that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on INSP. Piper Sandler boosted their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday. Bank of America lowered shares of Inspire Medical Systems from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $265.00 to $225.00 in a research note on Wednesday. Morgan Stanley assumed coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Royal Bank of Canada initiated coverage on Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 target price on the stock. Finally, KeyCorp started coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target for the company. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $256.53.

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.