Northwest & Ethical Investments L.P. Sells 605 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Northwest & Ethical Investments L.P. reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 5.2% during the 4th quarter, HoldingsChannel reports. The firm owned 11,025 shares of the company’s stock after selling 605 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Inspire Medical Systems were worth $2,044,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of INSP. Wasatch Advisors LP grew its position in Inspire Medical Systems by 1.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company’s stock worth $279,318,000 after acquiring an additional 20,481 shares during the last quarter. State Street Corp boosted its stake in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after purchasing an additional 27,374 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock valued at $102,102,000 after buying an additional 3,128 shares in the last quarter. Finally, TimesSquare Capital Management LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter valued at about $80,419,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on INSP. Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. KeyCorp reaffirmed an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Truist Financial lowered their target price 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, Piper Sandler cut their price target 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $228.82.

Insider Activity

In other Inspire Medical Systems news, 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 completion of the sale, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock valued at $4,806,530 in the last quarter. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Up 1.0 %

Shares of INSP opened at $164.39 on Friday. The stock has a market cap of $4.88 billion, a P/E ratio of 95.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock’s 50-day moving average price is $180.28 and its two-hundred day moving average price is $191.32.

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