Van ECK Associates Corp Buys 384 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Van ECK Associates Corp grew its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 52.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,113 shares of the company’s stock after purchasing an additional 384 shares during the period. Van ECK Associates Corp’s holdings in Inspire Medical Systems were worth $206,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of INSP. State Street Corp boosted its stake in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after purchasing an additional 459,990 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Inspire Medical Systems by 954.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after acquiring an additional 289,075 shares during the period. Riverbridge Partners LLC purchased a new position in Inspire Medical Systems during the 4th quarter valued at about $26,342,000. Principal Financial Group Inc. lifted its position in Inspire Medical Systems by 3,812.6% during the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 shares during the period. Finally, Eagle Asset Management Inc. lifted its position in Inspire Medical Systems by 82.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock valued at $51,269,000 after acquiring an additional 117,819 shares during the period. Institutional investors own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $176.87 on Monday. The company has a 50-day simple moving average of $187.92 and a two-hundred day simple moving average of $193.28. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market capitalization of $5.25 billion, a PE ratio of 102.24, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating 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, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on INSP. Piper Sandler lowered their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Truist Financial lowered their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Robert W. Baird lowered their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Morgan Stanley decreased their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

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.