Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by First Light Asset Management LLC

First Light Asset Management LLC decreased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 79.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,135 shares of the company’s stock after selling 111,816 shares during the period. First Light Asset Management LLC owned approximately 0.09% of Inspire Medical Systems worth $3,765,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of INSP. Baillie Gifford & Co. boosted its stake in Inspire Medical Systems by 19.3% during the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares in the last quarter. Wasatch Advisors LP boosted its position in shares of Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock valued at $236,885,000 after purchasing an additional 5,522 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Finally, William Blair Investment Management LLC raised its holdings in shares of Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after purchasing an additional 13,602 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock valued at $1,099,207 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $216.71 on Tuesday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market cap of $6.44 billion, a PE ratio of -394.02 and a beta of 1.33. The firm’s 50 day moving average price is $178.04 and its two-hundred day moving average price is $182.08.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the business posted ($0.41) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 29.6% compared to the same quarter last year. Equities analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have issued reports on INSP shares. Truist Financial decreased their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research report on Tuesday, July 16th. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Bank of America dropped their price target 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, Robert W. Baird cut their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $214.85.

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.