Keybank National Association OH Acquires 586 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Keybank National Association OH boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 200,759 shares of the company’s stock after buying an additional 586 shares during the quarter. Keybank National Association OH’s holdings in Inspire Medical Systems were worth $37,217,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Horizon Advisors Inc. increased its position in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares in the last quarter. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems during the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC increased its holdings in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after acquiring an additional 229 shares during the period. Finally, Nisa Investment Advisors LLC raised its stake in Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after acquiring an additional 100 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the stock in a transaction on 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 sale, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,225 shares of company stock worth $4,806,530. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on INSP shares. Truist Financial reduced their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Stifel Nicolaus lowered 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. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Wells Fargo & Company decreased their target price 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. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock 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 price-to-earnings-growth ratio of 2.86 and a beta of 1.32. The firm has a 50-day moving average of $187.66 and a two-hundred day moving average of $193.02. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

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

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.