Insider Selling: Inspire Medical Systems, Inc. (NYSE:INSP) CTO Sells 58 Shares of Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 58 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $215.00, for a total value of $12,470.00. Following the sale, the chief technology officer now owns 11,322 shares in the company, valued at approximately $2,434,230. This represents a 0.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Inspire Medical Systems Stock Performance

NYSE:INSP traded down $10.86 on Friday, hitting $203.03. 794,308 shares of the stock were exchanged, compared to its average volume of 588,019. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 189.75 and a beta of 1.32. The company’s 50-day moving average price is $191.46 and its 200 day moving average price is $182.92.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same period in the prior year, the business posted ($0.29) earnings per share. Inspire Medical Systems’s revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Rhumbline Advisers boosted its holdings in Inspire Medical Systems by 0.9% during the second quarter. Rhumbline Advisers now owns 35,861 shares of the company’s stock worth $4,799,000 after buying an additional 304 shares during the last quarter. Arizona State Retirement System raised its position in shares of Inspire Medical Systems by 4.5% during the second quarter. Arizona State Retirement System now owns 8,481 shares of the company’s stock worth $1,135,000 after purchasing an additional 367 shares during the period. Daiwa Securities Group Inc. bought a new position in Inspire Medical Systems in the second quarter valued at approximately $53,000. William Blair Investment Management LLC lifted its position in Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after acquiring an additional 13,602 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Inspire Medical Systems by 26.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 10,768 shares of the company’s stock worth $1,441,000 after buying an additional 2,242 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on INSP shares. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Stifel Nicolaus restated a “hold” rating and set a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $233.58.

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.