Public Employees Retirement Association of Colorado Reduces Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Public Employees Retirement Association of Colorado decreased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,410 shares of the company’s stock after selling 65 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Inspire Medical Systems were worth $456,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of Inspire Medical Systems by 176,312.5% during the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock valued at $3,031,000 after buying an additional 14,105 shares during the period. Bullseye Asset Management LLC raised its holdings in Inspire Medical Systems by 119.6% in the 4th quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock valued at $5,534,000 after acquiring an additional 14,812 shares during the last quarter. Private Ocean LLC purchased a new position in shares of Inspire Medical Systems during the 1st quarter worth $2,738,000. Russell Investments Group Ltd. boosted its holdings in shares of Inspire Medical Systems by 98.9% during the first quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock worth $6,859,000 after purchasing an additional 15,877 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Inspire Medical Systems by 51.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock worth $1,099,207 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 0.6 %

NYSE INSP opened at $207.10 on Friday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The business has a 50 day moving average price of $180.54 and a two-hundred day moving average price of $182.33. The stock has a market cap of $6.18 billion, a PE ratio of -376.55 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the firm earned ($0.41) earnings per share. The business’s quarterly revenue was up 29.6% compared to the same quarter last year. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Wall Street Analyst Weigh In

INSP has been the topic of several recent analyst reports. Leerink Partners increased their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Robert W. Baird cut their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Truist Financial lowered their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a report on Tuesday, July 16th. Stifel Nicolaus cut their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research note on Monday, June 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $214.85.

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.