Principal Financial Group Inc. Sells 6,336 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Principal Financial Group Inc. reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 63.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,606 shares of the company’s stock after selling 6,336 shares during the period. Principal Financial Group Inc.’s holdings in Inspire Medical Systems were worth $483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Securities Inc. bought a new position in shares of Inspire Medical Systems during the 4th quarter valued at approximately $54,000. RiverPark Advisors LLC lifted its stake in Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $201,000. Moody National Bank Trust Division purchased a new stake in Inspire Medical Systems in the 1st quarter worth approximately $238,000. Finally, CWM LLC lifted its stake in Inspire Medical Systems by 101.6% in the 2nd quarter. CWM LLC now owns 1,246 shares of the company’s stock worth $167,000 after purchasing an additional 628 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $203.99 on Friday. 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 $6.08 billion, a P/E ratio of -370.89 and a beta of 1.33. The firm has a 50-day moving average of $168.99 and a 200 day moving average of $181.09.

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, beating analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. Inspire Medical Systems’s revenue was up 29.6% on a year-over-year basis. During the same period last year, the company posted ($0.41) EPS. Research analysts expect that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Inspire Medical Systems news, 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 value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock valued at $1,099,207. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on INSP shares. Stifel Nicolaus lowered their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Leerink Partners increased their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday. Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Finally, Robert W. Baird cut their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.85.

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.