Ensign Peak Advisors Inc Trims Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Ensign Peak Advisors Inc decreased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 23.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 125,286 shares of the company’s stock after selling 38,350 shares during the period. Ensign Peak Advisors Inc owned 0.42% of Inspire Medical Systems worth $16,767,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. SouthState Corp acquired a new stake in shares of Inspire Medical Systems during the second quarter valued at $27,000. Daiwa Securities Group Inc. acquired a new stake in shares of Inspire Medical Systems during the 2nd quarter worth about $53,000. Van ECK Associates Corp boosted its stake in shares of Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after purchasing an additional 72 shares during the last quarter. RiverPark Advisors LLC grew its holdings in shares of Inspire Medical Systems by 360.1% during the first quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after buying an additional 605 shares in the last quarter. Finally, CWM LLC raised its position in shares of Inspire Medical Systems by 101.6% in the second quarter. CWM LLC now owns 1,246 shares of the company’s stock valued at $167,000 after buying an additional 628 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Up 1.8 %

INSP stock opened at $216.71 on Tuesday. The stock’s 50 day moving average is $178.04 and its two-hundred day moving average is $182.08. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The company has a market capitalization of $6.44 billion, a PE ratio of -394.02 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The business had revenue of $195.89 million during the quarter, compared to analyst estimates of $189.08 million. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. The business’s revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Insider Activity

In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

INSP has been the subject of several recent analyst reports. Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Bank of America dropped their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Robert W. Baird dropped their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.85.

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.