Mitsubishi UFJ Trust & Banking Corp Sells 9,867 Shares of Inspire Medical Systems, Inc. $INSP

Mitsubishi UFJ Trust & Banking Corp reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 14.6% in the 2nd quarter, Holdings Channel reports. The firm owned 57,611 shares of the company’s stock after selling 9,867 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Inspire Medical Systems were worth $7,476,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in INSP. Envestnet Asset Management Inc. increased its stake in shares of Inspire Medical Systems by 33.1% in the first quarter. Envestnet Asset Management Inc. now owns 34,151 shares of the company’s stock valued at $5,440,000 after buying an additional 8,484 shares during the period. Edgestream Partners L.P. bought a new stake in Inspire Medical Systems in the first quarter valued at approximately $707,000. Victory Capital Management Inc. increased its position in Inspire Medical Systems by 1.9% during the 1st quarter. Victory Capital Management Inc. now owns 78,937 shares of the company’s stock valued at $12,573,000 after purchasing an additional 1,468 shares during the period. Jennison Associates LLC raised its holdings in Inspire Medical Systems by 40.0% during the 1st quarter. Jennison Associates LLC now owns 66,602 shares of the company’s stock worth $10,608,000 after purchasing an additional 19,016 shares during the last quarter. Finally, Los Angeles Capital Management LLC raised its holdings in Inspire Medical Systems by 50.4% during the 1st quarter. Los Angeles Capital Management LLC now owns 136,174 shares of the company’s stock worth $21,690,000 after purchasing an additional 45,632 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INSP shares. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research report on Tuesday, August 5th. JPMorgan Chase & Co. decreased their price target on Inspire Medical Systems from $110.00 to $82.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. KeyCorp reissued a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Wednesday, October 8th. Finally, UBS Group set a $89.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a report on Monday, September 22nd. Eight investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Inspire Medical Systems presently has a consensus rating of “Hold” and an average target price of $133.88.

Inspire Medical Systems Price Performance

INSP stock opened at $86.47 on Monday. The company’s 50-day moving average is $79.52 and its 200-day moving average is $108.59. The stock has a market capitalization of $2.51 billion, a PE ratio of 58.83, a price-to-earnings-growth ratio of 9.36 and a beta of 1.14. Inspire Medical Systems, Inc. has a 1 year low of $70.77 and a 1 year high of $216.01.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The business had revenue of $224.50 million for the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The firm’s revenue for the quarter was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. On average, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its board has initiated a stock repurchase plan on Monday, August 11th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to reacquire up to 8.6% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Inspire Medical Systems

In other news, CFO Richard Buchholz sold 11,000 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the transaction, the chief financial officer directly owned 44,867 shares of the company’s stock, valued at $4,190,129.13. This represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.30% of the stock is currently owned by corporate 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.