Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Truist Financial Corp

Truist Financial Corp lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 10.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,426 shares of the company’s stock after selling 277 shares during the period. Truist Financial Corp’s holdings in Inspire Medical Systems were worth $450,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC raised its position in shares of Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock worth $1,461,000 after purchasing an additional 79 shares during the last quarter. Nisa Investment Advisors LLC raised its position in shares of Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System raised its position in shares of Inspire Medical Systems by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock worth $2,688,000 after purchasing an additional 100 shares during the last quarter. Quarry LP raised its position in shares of Inspire Medical Systems by 30.9% during the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock worth $95,000 after purchasing an additional 106 shares during the last quarter. Finally, TriaGen Wealth Management LLC raised its position in shares of Inspire Medical Systems by 5.4% during the 4th quarter. TriaGen Wealth Management LLC now owns 2,137 shares of the company’s stock worth $396,000 after purchasing an additional 110 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $182.71 on Tuesday. The firm has a 50 day simple moving average of $187.78 and a 200-day simple moving average of $193.07. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The stock has a market cap of $5.42 billion, a price-to-earnings ratio of 105.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Piper Sandler reduced 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. Morgan Stanley dropped their price objective on shares of 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. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Stifel Nicolaus dropped their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Finally, KeyCorp reaffirmed an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Insider Buying and Selling

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were 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 owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,225 shares of company stock valued at $4,806,530. Company insiders own 4.10% of the company’s stock.

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.