Ieq Capital LLC Acquires 18,702 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Ieq Capital LLC increased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 781.5% during the 4th quarter, Holdings Channel reports. The firm owned 21,095 shares of the company’s stock after buying an additional 18,702 shares during the period. Ieq Capital LLC’s holdings in Inspire Medical Systems were worth $3,911,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. TimesSquare Capital Management LLC bought a new stake in shares of Inspire Medical Systems in the fourth quarter worth about $80,419,000. Principal Financial Group Inc. grew its stake in shares of Inspire Medical Systems by 3.7% in the fourth quarter. Principal Financial Group Inc. now owns 146,310 shares of the company’s stock worth $27,123,000 after purchasing an additional 5,221 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 11,924 shares of the company’s stock worth $2,210,000 after purchasing an additional 145 shares during the last quarter. Congress Asset Management Co. grew its stake in shares of Inspire Medical Systems by 37.6% in the fourth quarter. Congress Asset Management Co. now owns 7,606 shares of the company’s stock worth $1,410,000 after purchasing an additional 2,077 shares during the last quarter. Finally, New York State Teachers Retirement System grew its stake in shares of Inspire Medical Systems by 13.6% in the fourth quarter. New York State Teachers Retirement System now owns 9,194 shares of the company’s stock worth $1,704,000 after purchasing an additional 1,100 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Truist Financial cut their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company cut 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 report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Down 0.9 %

Shares of NYSE INSP opened at $176.87 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market cap of $5.25 billion, a P/E ratio of 102.24, a PEG ratio of 2.87 and a beta of 1.32. The company has a 50 day moving average of $188.14 and a 200 day moving average of $192.70.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share 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%. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction 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 approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of the business’s 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 sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This represents a 5.30 % 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 worth $4,806,530 in the last three months. Insiders own 4.10% of the company’s stock.

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.