Zacks Investment Management Increases Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Zacks Investment Management grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 12.7% in the fourth quarter, HoldingsChannel reports. The firm owned 12,657 shares of the company’s stock after buying an additional 1,429 shares during the quarter. Zacks Investment Management’s holdings in Inspire Medical Systems were worth $2,346,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after buying an additional 229 shares in the last quarter. Merit Financial Group LLC bought a new position in shares of Inspire Medical Systems during the 4th quarter valued at approximately $313,000. Jennison Associates LLC purchased a new position in shares of Inspire Medical Systems in the fourth quarter valued at $8,821,000. Janney Montgomery Scott LLC increased its position in Inspire Medical Systems by 248.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock worth $891,000 after purchasing an additional 3,427 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. purchased a new stake in Inspire Medical Systems during the fourth quarter valued at $292,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Trading Up 2.4 %

Shares of INSP opened at $150.42 on Friday. The firm has a fifty day moving average price of $166.82 and a 200-day moving average price of $183.81. The firm has a market capitalization of $4.48 billion, a P/E ratio of 86.95, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

INSP has been the subject of a number of recent research reports. Stifel Nicolaus dropped their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Piper Sandler reduced their price objective 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. Wells Fargo & Company lowered their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. KeyCorp reissued an “overweight” rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $222.20.

Insider Activity at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems 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.