Inspire Medical Systems, Inc. $INSP Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 73.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,247 shares of the company’s stock after selling 141,021 shares during the period. New York State Common Retirement Fund owned 0.17% of Inspire Medical Systems worth $3,728,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. New York State Teachers Retirement System lifted its position in Inspire Medical Systems by 0.5% during the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock worth $2,789,000 after buying an additional 100 shares in the last quarter. Amalgamated Bank lifted its stake in Inspire Medical Systems by 1.3% during the second quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after purchasing an additional 125 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after acquiring an additional 130 shares during the period. Choreo LLC increased its stake in Inspire Medical Systems by 9.8% during the second quarter. Choreo LLC now owns 1,877 shares of the company’s stock worth $244,000 after purchasing an additional 168 shares during the period. Finally, Teacher Retirement System of Texas increased its stake in Inspire Medical Systems by 2.4% during the 2nd quarter. Teacher Retirement System of Texas now owns 8,572 shares of the company’s stock worth $1,112,000 after buying an additional 201 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the transaction, the director owned 26,046 shares in the company, valued at $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Up 0.3%

Shares of Inspire Medical Systems stock opened at $65.78 on Friday. Inspire Medical Systems, Inc. has a 12 month low of $64.77 and a 12 month high of $197.75. The stock has a market cap of $1.91 billion, a PE ratio of 44.75, a price-to-earnings-growth ratio of 6.63 and a beta of 0.74. The business has a fifty day simple moving average of $99.89 and a 200-day simple moving average of $93.01.

Analysts Set New Price Targets

Several brokerages have weighed in on INSP. Evercore restated an “outperform” rating and set a $125.00 price target on shares of Inspire Medical Systems in a report on Thursday, January 22nd. Royal Bank Of Canada cut shares of Inspire Medical Systems from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $175.00 to $90.00 in a research note on Tuesday, January 27th. Oppenheimer cut Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Piper Sandler raised their price objective on shares of Inspire Medical Systems from $135.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, December 8th. Finally, Wolfe Research raised shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research note on Tuesday, November 25th. Eight investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.47.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.