American Century Companies Inc. Cuts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

American Century Companies Inc. lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 23.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 259,869 shares of the company’s stock after selling 78,507 shares during the quarter. American Century Companies Inc. owned about 0.87% of Inspire Medical Systems worth $34,778,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Baillie Gifford & Co. lifted its holdings in Inspire Medical Systems by 19.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after buying an additional 237,734 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares during the period. Wasatch Advisors LP grew its stake in Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after purchasing an additional 5,522 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares during the period. Finally, Frontier Capital Management Co. LLC increased its holdings in Inspire Medical Systems by 105.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after purchasing an additional 380,362 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 0.6 %

NYSE:INSP opened at $206.78 on Wednesday. The company has a market capitalization of $6.17 billion, a PE ratio of -375.96 and a beta of 1.33. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock’s 50 day moving average price is $171.94 and its 200 day moving average price is $181.45.

Inspire Medical Systems (NYSE:INSP) last announced its 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 for the quarter, compared to analyst estimates of $189.08 million. During the same period last year, the firm posted ($0.41) earnings per share. The company’s revenue for the quarter 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 fiscal year.

Insider Transactions at Inspire Medical Systems

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on INSP. KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Stifel Nicolaus dropped 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 price objective on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Truist Financial dropped their target price on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Finally, Robert W. Baird cut their price target on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $214.85.

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.