Keybank National Association OH Boosts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Keybank National Association OH increased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 200,759 shares of the company’s stock after purchasing an additional 586 shares during the quarter. Keybank National Association OH owned approximately 0.67% of Inspire Medical Systems worth $37,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. First Horizon Advisors Inc. raised its holdings in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after purchasing an additional 124 shares in the last quarter. True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems during the third quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after buying an additional 139 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after buying an additional 229 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Inspire Medical Systems by 37.3% in the fourth 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 period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on INSP shares. Piper Sandler decreased their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Morgan Stanley decreased their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Wells Fargo & Company dropped 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 report on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Finally, Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Down 1.1 %

NYSE:INSP opened at $180.50 on Wednesday. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 104.33, a PEG ratio of 2.86 and a beta of 1.32. The company’s 50 day moving average price is $187.66 and its 200-day moving average price is $193.02. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock valued at $4,806,530 over the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems 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.