Inspire Medical Systems, Inc. (NYSE:INSP) Stock Position Decreased by Alliancebernstein L.P.

Alliancebernstein L.P. decreased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,918 shares of the company’s stock after selling 106 shares during the quarter. Alliancebernstein L.P.’s holdings in Inspire Medical Systems were worth $2,024,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its stake in Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after acquiring an additional 229 shares during the last quarter. Merit Financial Group LLC bought a new position in Inspire Medical Systems during the fourth quarter valued at about $313,000. Jennison Associates LLC acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at $8,821,000. Janney Montgomery Scott LLC boosted its holdings in Inspire Medical Systems by 248.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after purchasing an additional 3,427 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new position in Inspire Medical Systems during the fourth quarter worth $292,000. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on INSP. Truist Financial reduced their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird lowered their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley cut their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Piper Sandler cut their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $222.20.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Up 0.4 %

INSP opened at $146.82 on Thursday. The stock has a market cap of $4.37 billion, a P/E ratio of 84.87, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The company has a fifty day simple moving average of $167.43 and a 200 day simple moving average of $184.23.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 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.