Teacher Retirement System of Texas Lowers Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Teacher Retirement System of Texas lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 38.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,371 shares of the company’s stock after selling 5,308 shares during the period. Teacher Retirement System of Texas’ holdings in Inspire Medical Systems were worth $1,333,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Huntington National Bank raised its holdings in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after purchasing an additional 121 shares during the last quarter. True Wealth Design LLC raised its holdings in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 55 shares during the last quarter. Harbour Investments Inc. raised its holdings in shares of Inspire Medical Systems by 101.0% in the fourth 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. Parallel Advisors LLC raised its holdings in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. Finally, AlphaQuest LLC raised its holdings in shares of Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after purchasing an additional 291 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the business’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director owned 24,046 shares of the company’s stock, valued at approximately $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on INSP shares. JPMorgan Chase & Co. decreased their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th. Royal Bank Of Canada decreased their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a report on Tuesday, May 6th. Finally, Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $211.91.

Inspire Medical Systems Stock Down 6.3%

Shares of NYSE:INSP opened at $130.48 on Friday. The firm has a market capitalization of $3.85 billion, a PE ratio of 60.13, a P/E/G ratio of 1.99 and a beta of 1.25. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00. The company has a 50-day moving average price of $139.08 and a two-hundred day moving average price of $161.48.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The firm had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. During the same quarter last year, the business earned ($0.34) earnings per share. The company’s quarterly revenue was up 22.7% on a year-over-year basis. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share 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.