Comerica Bank Has $4.66 Million Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Comerica Bank increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 26.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 25,159 shares of the company’s stock after buying an additional 5,285 shares during the period. Comerica Bank’s holdings in Inspire Medical Systems were worth $4,664,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of INSP. First Horizon Advisors Inc. lifted its position in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares during the period. Huntington National Bank lifted its holdings in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after acquiring an additional 121 shares during the period. Harbour Investments Inc. boosted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. AlphaQuest LLC grew its holdings in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after purchasing an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its position in shares of Inspire Medical Systems by 61.9% during the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock worth $61,000 after purchasing an additional 125 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Robert W. Baird decreased their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada decreased their price target on Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 15th. Wells Fargo & Company cut 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 report on Tuesday, February 11th. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus cut their price target on Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $218.90.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $159.67 on Tuesday. The firm has a fifty day moving average of $159.91 and a two-hundred day moving average of $179.25. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 92.29, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $256.11.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. During the same quarter in the prior year, the company posted ($0.34) earnings per share. The firm’s revenue was up 22.7% on a year-over-year basis. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Shawn Mccormick sold 360 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director now owns 24,046 shares of the company’s stock, valued at $3,847,360. This represents a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the 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 transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,527 shares of company stock valued at $4,851,660 in the last ninety days. 4.10% of the stock is owned by insiders.

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.