Ieq Capital LLC Buys 18,702 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Ieq Capital LLC grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 781.5% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 21,095 shares of the company’s stock after purchasing an additional 18,702 shares during the period. Ieq Capital LLC owned about 0.07% of Inspire Medical Systems worth $3,911,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSP. True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC boosted its stake in shares of Inspire Medical Systems by 1,158.3% in 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. Signaturefd LLC boosted its stake in shares of Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after buying an additional 85 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after buying an additional 100 shares during the last quarter. Finally, Values First Advisors Inc. purchased a new position in shares of Inspire Medical Systems in the 3rd quarter worth approximately $91,000. 94.91% of the stock is owned by institutional investors.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock valued at $4,806,530 over the last 90 days. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on INSP. Stifel Nicolaus cut their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird dropped their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $176.87 on Friday. The stock has a market cap of $5.25 billion, a P/E ratio of 102.24, a PEG ratio of 2.87 and a beta of 1.32. 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 fifty day moving average price is $188.14 and its 200-day moving average price is $192.70.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results 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%. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share 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.