Diversified Trust Co Increases Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Diversified Trust Co increased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,471 shares of the company’s stock after purchasing an additional 1,150 shares during the quarter. Diversified Trust Co’s holdings in Inspire Medical Systems were worth $1,175,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems in the fourth quarter worth about $27,000. Headinvest LLC bought a new stake in Inspire Medical Systems in the third quarter valued at approximately $48,000. Principal Securities Inc. bought a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $54,000. International Assets Investment Management LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter worth approximately $166,000. Finally, Great Lakes Advisors LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter worth approximately $201,000. 94.91% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Truist Financial reissued a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Morgan Stanley began coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price on the stock. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. Bank of America reduced their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Finally, Piper Sandler raised their price target on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $251.20.

Inspire Medical Systems Stock Performance

INSP stock opened at $138.75 on Tuesday. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00. The business has a fifty day moving average price of $177.05 and a 200-day moving average price of $192.52.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. During the same quarter in the previous year, the firm earned ($0.53) EPS. Inspire Medical Systems’s revenue was up 28.2% on a year-over-year basis. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 0.16 EPS for the current fiscal year.

About Inspire Medical Systems

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.