Thrivent Financial for Lutherans Increases Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Thrivent Financial for Lutherans lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 16.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 129,120 shares of the company’s stock after buying an additional 18,540 shares during the period. Thrivent Financial for Lutherans’ holdings in Inspire Medical Systems were worth $23,937,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of INSP. KBC Group NV lifted its holdings in Inspire Medical Systems by 16.9% during the third quarter. KBC Group NV now owns 870 shares of the company’s stock worth $184,000 after acquiring an additional 126 shares during the period. CIBC Asset Management Inc bought a new stake in Inspire Medical Systems during the third quarter worth $285,000. Mutual of America Capital Management LLC bought a new stake in Inspire Medical Systems during the third quarter worth $947,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Inspire Medical Systems during the third quarter worth $1,929,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Inspire Medical Systems by 80.3% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 146,244 shares of the company’s stock worth $30,865,000 after acquiring an additional 65,147 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Activity

In related news, 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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the business’s 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 transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $163.07 on Friday. The stock has a market cap of $4.84 billion, a PE ratio of 94.26, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock has a fifty day moving average of $181.05 and a 200-day moving average of $191.43.

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

Analyst Ratings Changes

A number of analysts recently commented on INSP shares. Wells Fargo & Company dropped their price target on 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. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Robert W. Baird lowered their target price 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. Truist Financial lowered their target price 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. Finally, Piper Sandler lowered their target price 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 research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price 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.