Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Rhumbline Advisers

Rhumbline Advisers reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 73,650 shares of the company’s stock after selling 2,918 shares during the period. Rhumbline Advisers owned approximately 0.25% of Inspire Medical Systems worth $13,653,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in INSP. Creative Planning boosted its position in shares of Inspire Medical Systems by 25.8% during the 3rd quarter. Creative Planning now owns 3,240 shares of the company’s stock worth $684,000 after purchasing an additional 665 shares in the last quarter. Signaturefd LLC boosted its position in shares of Inspire Medical Systems by 45.9% during the 3rd 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. Values First Advisors Inc. purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $91,000. Louisiana State Employees Retirement System purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $3,039,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Inspire Medical Systems by 153.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,800 shares of the company’s stock worth $1,646,000 after purchasing an additional 4,721 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO John Rondoni sold 583 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $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 have sold 26,225 shares of company stock valued at $4,806,530 in the last ninety days. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $176.87 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a market capitalization of $5.25 billion, a P/E ratio of 102.24, a P/E/G ratio of 2.86 and a beta of 1.32. The firm’s 50-day moving average is $187.92 and its two-hundred day moving average is $192.92.

Inspire Medical Systems (NYSE:INSP) last released its quarterly 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%. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSP. Piper Sandler decreased their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the company from $220.00 to $255.00 in a research note on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Finally, Truist Financial lowered their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target 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.