Insider Selling: Inspire Medical Systems, Inc. (NYSE:INSP) CTO Sells 58 Shares of Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 58 shares of Inspire Medical Systems stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $215.00, for a total value of $12,470.00. Following the completion of the sale, the chief technology officer now owns 11,322 shares in the company, valued at $2,434,230. This represents a 0.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Inspire Medical Systems Stock Down 5.1 %

Shares of NYSE:INSP opened at $203.03 on Friday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm’s 50 day moving average price is $191.71 and its 200 day moving average price is $183.69. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 189.75 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s revenue was up 32.6% on a year-over-year basis. During the same period last year, the business earned ($0.29) EPS. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. True Wealth Design LLC purchased a new stake in Inspire Medical Systems during the third quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its position in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after buying an additional 151 shares during the last quarter. Quarry LP boosted its holdings in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after buying an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Inspire Medical Systems in the 2nd quarter valued at $53,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

INSP has been the subject of a number of recent analyst reports. Truist Financial reissued a “buy” rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Wells Fargo & Company boosted their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed an “overweight” rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.