New York State Common Retirement Fund Trims Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New York State Common Retirement Fund lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 147,679 shares of the company’s stock after selling 23,580 shares during the quarter. New York State Common Retirement Fund owned about 0.49% of Inspire Medical Systems worth $27,377,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of INSP. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Inspire Medical Systems in the 3rd quarter worth approximately $1,929,000. Thrivent Financial for Lutherans raised its holdings in Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after purchasing an additional 31,444 shares in the last quarter. Merit Financial Group LLC bought a new position in Inspire Medical Systems in the fourth quarter worth $313,000. Principal Financial Group Inc. raised its holdings in Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after purchasing an additional 137,483 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its holdings in Inspire Medical Systems by 9.4% in the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock worth $7,674,000 after purchasing an additional 3,125 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of NYSE:INSP opened at $176.87 on Friday. The stock has a market capitalization of $5.25 billion, a price-to-earnings ratio of 102.24, a PEG ratio of 2.87 and a beta of 1.32. The stock’s 50-day simple moving average is $188.14 and its two-hundred day simple moving average is $192.70. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results 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%. As a group, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The stock was 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 $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the firm’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 completion of the transaction, the chief technology officer now directly owns 10,424 shares in the company, 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 three months, insiders have sold 26,225 shares of company stock valued at $4,806,530. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their target price for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Piper Sandler cut their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Stifel Nicolaus cut their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company cut 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, 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. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

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.