Legal & General Group Plc Reduces Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Legal & General Group Plc lessened its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 0.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 95,478 shares of the company’s stock after selling 169 shares during the quarter. Legal & General Group Plc owned approximately 0.32% of Inspire Medical Systems worth $17,700,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Invesco Ltd. grew its stake in Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock worth $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Inspire Medical Systems by 30.8% during the fourth quarter. Bank of Montreal Can now owns 4,522 shares of the company’s stock valued at $838,000 after buying an additional 1,064 shares during the period. Quadrant Capital Group LLC raised its holdings in shares of Inspire Medical Systems by 61.9% in the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock valued at $61,000 after acquiring an additional 125 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in Inspire Medical Systems by 1,083.9% in the fourth quarter. Russell Investments Group Ltd. now owns 18,126 shares of the company’s stock worth $3,360,000 after acquiring an additional 16,595 shares during the period. Finally, Envestnet Asset Management Inc. grew its holdings in Inspire Medical Systems by 7.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 25,667 shares of the company’s stock worth $4,758,000 after acquiring an additional 1,752 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on INSP shares. Truist Financial dropped their price objective 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. Wells Fargo & Company cut their price target on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley dropped their price objective on 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. Piper Sandler decreased their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, KeyCorp restated an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $226.70.

Insider Buying and Selling

In other news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the insider now owns 7,259 shares of the company’s stock, valued at approximately $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. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Up 1.4 %

NYSE INSP opened at $149.61 on Tuesday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The company has a fifty day simple moving average of $168.82 and a two-hundred day simple moving average of $184.75. The stock has a market cap of $4.45 billion, a P/E ratio of 86.48, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last issued its 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 return on equity of 8.19% and a net margin of 6.67%. As a group, sell-side analysts forecast 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.