Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 10.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,797 shares of the company’s stock after selling 1,423 shares during the quarter. Intech Investment Management LLC’s holdings in Inspire Medical Systems were worth $2,372,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Thrivent Financial for Lutherans grew its position in shares of Inspire Medical Systems by 16.8% in the fourth quarter. Thrivent Financial for Lutherans now owns 129,120 shares of the company’s stock valued at $23,937,000 after purchasing an additional 18,540 shares during the period. Harbour Investments Inc. grew its position in shares of Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. Monimus Capital Management LP acquired a new position in Inspire Medical Systems during the fourth quarter worth about $5,099,000. Commonwealth Equity Services LLC boosted its position in Inspire Medical Systems by 7.8% during the fourth quarter. Commonwealth Equity Services LLC now owns 7,984 shares of the company’s stock worth $1,480,000 after acquiring an additional 575 shares during the last quarter. Finally, Swiss National Bank boosted its position in Inspire Medical Systems by 1.0% during the fourth quarter. Swiss National Bank now owns 58,600 shares of the company’s stock worth $10,863,000 after acquiring an additional 600 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $163.07 on Friday. The company’s 50 day simple moving average is $181.05 and its 200-day simple moving average is $191.43. The company has a market capitalization of $4.84 billion, a price-to-earnings 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 1 year low of $123.00 and a 1 year high of $257.40.

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

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent research reports. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Wells Fargo & Company lowered their price target on shares of 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. Morgan Stanley lowered their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial reduced their target price on shares of 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, KeyCorp reaffirmed an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,225 shares of company stock worth $4,806,530. Corporate insiders own 4.10% of the company’s stock.

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.