Xponance Inc. Reduces Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Xponance Inc. cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,869 shares of the company’s stock after selling 227 shares during the quarter. Xponance Inc.’s holdings in Inspire Medical Systems were worth $787,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in Inspire Medical Systems by 130.1% during the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock valued at $490,437,000 after purchasing an additional 1,397,510 shares during the last quarter. Baillie Gifford & Co. increased its position in shares of Inspire Medical Systems by 6,846.9% during the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock valued at $250,194,000 after buying an additional 1,212,175 shares during the period. Wellington Management Group LLP increased its position in shares of Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after buying an additional 411,480 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Inspire Medical Systems by 29.9% during the third quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock valued at $145,337,000 after buying an additional 168,733 shares during the period. Finally, Federated Hermes Inc. increased its position in shares of Inspire Medical Systems by 31.8% during the third quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock valued at $98,506,000 after buying an additional 119,846 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 12,230 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the completion of the sale, the insider now owns 3,029 shares of the company’s stock, valued at $561,485.73. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now owns 28,271 shares of the company’s stock, valued at $6,503,178.13. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 12,230 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total value of $2,267,075.10. Following the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at approximately $561,485.73. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock worth $15,664,278 over the last ninety days. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Morgan Stanley assumed coverage on Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Stifel Nicolaus reiterated a “hold” rating and set a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Mizuho reiterated a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. KeyCorp began coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target on the stock. Finally, Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective on the stock. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $272.20.

Inspire Medical Systems Trading Down 1.4 %

Shares of NYSE INSP opened at $231.01 on Friday. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $330.00. The firm’s 50 day simple moving average is $206.65 and its two-hundred day simple moving average is $185.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same period last year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 39.6% on a year-over-year basis. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

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.