Evolutionary Tree Capital Management LLC Sells 1,170 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Evolutionary Tree Capital Management LLC cut its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 11.2% in the fourth quarter, Holdings Channel reports. The fund owned 9,259 shares of the company’s stock after selling 1,170 shares during the period. Inspire Medical Systems comprises approximately 1.7% of Evolutionary Tree Capital Management LLC’s holdings, making the stock its 24th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Inspire Medical Systems were worth $1,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. increased 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 purchasing an additional 124 shares in the last quarter. Huntington National Bank grew its stake in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after buying an additional 121 shares during the last quarter. Harbour Investments Inc. increased its holdings in shares of Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares in the last quarter. AlphaQuest LLC raised its stake in shares of Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after acquiring an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its holdings in shares of Inspire Medical Systems by 61.9% in the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock worth $61,000 after acquiring an additional 125 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $147.10 on Friday. The firm has a fifty day moving average of $169.67 and a two-hundred day moving average of $185.27. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 85.03, 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 $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 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, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INSP shares. Piper Sandler dropped their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Wells Fargo & Company lowered their target price 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. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Robert W. Baird lowered their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Finally, 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 report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $226.70.

Insider Activity

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the 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 completion of the sale, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 sale, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by company 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.