Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by New York State Teachers Retirement System

New York State Teachers Retirement System lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 13.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,194 shares of the company’s stock after acquiring an additional 1,100 shares during the period. New York State Teachers Retirement System’s holdings in Inspire Medical Systems were worth $1,704,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems in the 3rd quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its stake in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares in the last quarter. Signaturefd LLC boosted its position in Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after purchasing an additional 100 shares in the last quarter. Finally, Values First Advisors Inc. purchased a new stake in Inspire Medical Systems during the third quarter worth $91,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INSP shares. KeyCorp reiterated an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Morgan Stanley lowered their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Finally, Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.82.

Insider Activity

In related news, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares of the company’s stock, 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 legal filing with the SEC, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock worth $4,806,530 in the last quarter. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $176.87 on Friday. The firm has a 50-day moving average of $187.92 and a 200-day moving average of $192.92. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The company has a market cap of $5.25 billion, a price-to-earnings ratio of 102.24, a P/E/G ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 EPS 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, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.