Wasatch Advisors LP Sells 1,705 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Wasatch Advisors LP cut its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,321,765 shares of the company’s stock after selling 1,705 shares during the period. Inspire Medical Systems comprises 1.2% of Wasatch Advisors LP’s portfolio, making the stock its 27th biggest holding. Wasatch Advisors LP’s holdings in Inspire Medical Systems were worth $245,029,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INSP. Vanguard Group Inc. grew its stake in Inspire Medical Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after acquiring an additional 38,219 shares in the last quarter. Invesco Ltd. grew its position in shares of Inspire Medical Systems by 14.3% during the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Inspire Medical Systems by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after purchasing an additional 2,687 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter worth $80,419,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock valued at $61,709,000 after buying an additional 58,447 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $146.59 on Wednesday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market cap of $4.36 billion, a price-to-earnings ratio of 84.73, a PEG ratio of 2.86 and a beta of 1.39. The firm has a 50 day moving average price of $168.13 and a 200-day moving average price of $184.49.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping 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%. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. 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 research note on Tuesday, February 11th. KeyCorp restated an “overweight” rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Finally, Royal Bank of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $222.20.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now 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 disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate 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.