Proficio Capital Partners LLC Invests $4.12 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Proficio Capital Partners LLC bought a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 22,246 shares of the company’s stock, valued at approximately $4,124,000. Proficio Capital Partners LLC owned approximately 0.07% of Inspire Medical Systems as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. increased its position in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. True Wealth Design LLC purchased a new stake in shares of Inspire Medical Systems in the 3rd quarter worth about $30,000. Smartleaf Asset Management LLC boosted its stake in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after purchasing an additional 229 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after buying an additional 100 shares during the period. Finally, Quarry LP raised its stake in Inspire Medical Systems by 30.9% in the third quarter. Quarry LP now owns 449 shares of the company’s stock worth $95,000 after buying an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $166.59 on Tuesday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm’s 50-day moving average is $184.16 and its 200 day moving average is $191.95. The stock has a market cap of $4.94 billion, a price-to-earnings ratio of 96.29, a PEG ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (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%. On average, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction 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 transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock worth $4,806,530 in the last three months. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

INSP has been the topic of several research reports. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Piper Sandler lowered their price objective on 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. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems 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.