Wells Fargo & Company MN Purchases 2,230 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Wells Fargo & Company MN lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 13.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 19,013 shares of the company’s stock after acquiring an additional 2,230 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Inspire Medical Systems worth $3,525,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. increased its stake in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after acquiring an additional 124 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares in the last quarter. Harbour Investments Inc. increased its position in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the last quarter. AlphaQuest LLC raised its holdings in shares of Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after buying an additional 291 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after buying an additional 229 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on INSP. Robert W. Baird decreased their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler reduced their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Wells Fargo & Company reduced their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Finally, Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a report on Monday. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $218.90.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Up 2.9 %

Shares of NYSE INSP opened at $148.82 on Wednesday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The firm has a fifty day simple moving average of $164.54 and a two-hundred day simple moving average of $182.32. The firm has a market capitalization of $4.43 billion, a PE ratio of 86.03, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts’ consensus estimates 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, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.