Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 4,540 shares of the company’s stock after acquiring an additional 55 shares during the period. Mutual of America Capital Management LLC’s holdings in Inspire Medical Systems were worth $842,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in INSP. State Street Corp increased its position in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares in the last quarter. TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems during the 4th quarter worth $80,419,000. Point72 Asset Management L.P. grew its holdings in shares of Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after buying an additional 289,075 shares in the last quarter. Riverbridge Partners LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth $26,342,000. Finally, Principal Financial Group Inc. raised its position in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after buying an additional 137,483 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction 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 trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction 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 directly owns 7,259 shares of the company’s stock, 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. Insiders have sold 26,225 shares of company stock valued at $4,806,530 over the last 90 days. 4.10% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Truist Financial lowered their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus lowered their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley cut their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Finally, Piper Sandler dropped their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $183.34 on Monday. The stock has a 50 day moving average of $187.08 and a 200 day moving average of $192.79. The firm has a market capitalization of $5.44 billion, a price-to-earnings ratio of 105.98, a PEG ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

About Inspire Medical Systems

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.