New Age Alpha Advisors LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New Age Alpha Advisors LLC purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,445 shares of the company’s stock, valued at approximately $453,000.

A number of other institutional investors have also added to or reduced their stakes in INSP. BNP Paribas Financial Markets boosted its stake in shares of Inspire Medical Systems by 99.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after buying an additional 2,352 shares during the last quarter. Captrust Financial Advisors purchased a new position in Inspire Medical Systems in the third quarter worth $628,000. Verition Fund Management LLC bought a new position in Inspire Medical Systems in the 3rd quarter valued at $757,000. Cinctive Capital Management LP purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at $234,000. Finally, Holocene Advisors LP bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $1,345,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $157.74 on Wednesday. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock’s 50-day simple moving average is $178.23 and its 200 day simple moving average is $189.28. The stock has a market capitalization of $4.69 billion, a price-to-earnings ratio of 91.18, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other news, 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 transaction of $99,395.67. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s 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 completion of the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock valued at $4,806,530 in the last three months. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Robert W. Baird decreased 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 note on Tuesday, February 11th. Wells Fargo & Company dropped their price objective on 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. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, KeyCorp restated an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $226.70.

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.