Citigroup Inc. Reduces Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Citigroup Inc. trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 45.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,771 shares of the company’s stock after selling 14,742 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Inspire Medical Systems worth $3,751,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its position in Inspire Medical Systems by 152.7% during the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after buying an additional 140,090 shares during the period. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Inspire Medical Systems during the third quarter valued at approximately $1,929,000. SG Americas Securities LLC lifted its holdings in shares of Inspire Medical Systems by 114.2% in the second quarter. SG Americas Securities LLC now owns 6,228 shares of the company’s stock worth $833,000 after buying an additional 3,321 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Inspire Medical Systems by 39.7% in the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after buying an additional 31,444 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Inspire Medical Systems in the second quarter worth $1,391,000. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Up 2.6 %

INSP stock opened at $196.92 on Thursday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market capitalization of $5.90 billion, a price-to-earnings ratio of 184.04 and a beta of 1.31. The firm’s fifty day simple moving average is $196.85 and its two-hundred day simple moving average is $177.06.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter in the previous year, the business posted ($0.29) earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

INSP has been the topic of several research analyst reports. Stifel Nicolaus reissued a “hold” rating and issued a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Wells Fargo & Company upped their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Finally, KeyCorp decreased their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Three 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, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $233.58.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 4.10% of the company’s stock.

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.