Teacher Retirement System of Texas Sells 5,308 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after purchasing an additional 38,219 shares during the last quarter. Dragoneer Investment Group LLC bought a new position in Inspire Medical Systems in the fourth quarter valued at about $161,486,000. Invesco Ltd. raised its position in Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after purchasing an additional 99,030 shares during the last quarter. Janus Henderson Group PLC raised its position in Inspire Medical Systems by 12.9% in the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company’s stock valued at $105,173,000 after purchasing an additional 64,703 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after purchasing an additional 2,687 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on INSP shares. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research report on Monday, April 21st. Wall Street Zen upgraded Inspire Medical Systems from a “hold” rating to a “buy” rating in a research report on Saturday. Wells Fargo & Company dropped their target price on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 6th. JPMorgan Chase & Co. dropped their target price on Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird increased their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the company an “outperform” rating in a research report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $211.91.

Insiders Place Their Bets

In related news, Director Shawn Mccormick sold 360 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director directly owned 24,046 shares in the company, valued at $3,847,360. This represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Trading Down 6.3%

Shares of Inspire Medical Systems stock opened at $130.48 on Friday. The firm has a market capitalization of $3.85 billion, a PE ratio of 60.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.25. The business’s 50-day moving average price is $139.08 and its 200-day moving average price is $161.48. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.33. The firm had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The company’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the company earned ($0.34) EPS. As a group, analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal 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.