Sentry Investment Management LLC Reduces Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Sentry Investment Management LLC trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 14.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,204 shares of the company’s stock after selling 196 shares during the quarter. Sentry Investment Management LLC’s holdings in Inspire Medical Systems were worth $223,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. boosted its stake in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares during the last quarter. True Wealth Design LLC bought a new position in Inspire Medical Systems in the 3rd quarter worth $30,000. Farther Finance Advisors LLC lifted its position in Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. Signaturefd LLC grew its holdings in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after purchasing an additional 85 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after purchasing an additional 100 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

INSP stock opened at $184.76 on Wednesday. The company’s fifty day moving average price is $187.75 and its 200-day moving average price is $193.21. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The company has a market capitalization of $5.48 billion, a PE ratio of 106.80, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS 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%. On average, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 26,225 shares of company stock worth $4,806,530. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird dropped their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Piper Sandler reduced their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Finally, Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three research 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, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $228.82.

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.