Insider Selling: Inspire Medical Systems, Inc. (NYSE:INSP) CTO Sells $12,470.00 in Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 58 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $215.00, for a total transaction of $12,470.00. Following the transaction, the chief technology officer now owns 11,322 shares of the company’s stock, valued at $2,434,230. This trade represents a 0.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Inspire Medical Systems Trading Down 5.1 %

Shares of NYSE INSP opened at $203.03 on Monday. The stock has a market cap of $6.08 billion, a P/E ratio of 189.75 and a beta of 1.32. The stock has a 50 day moving average of $191.71 and a two-hundred day moving average of $184.02. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the prior year, the firm earned ($0.29) EPS. Inspire Medical Systems’s revenue for the quarter was up 32.6% on a year-over-year basis. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC raised its stake in Inspire Medical Systems by 152.7% during the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Inspire Medical Systems in the third quarter valued at approximately $1,929,000. Thrivent Financial for Lutherans raised its stake in shares of Inspire Medical Systems by 39.7% during the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock worth $23,337,000 after purchasing an additional 31,444 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in shares of Inspire Medical Systems during the second quarter worth $1,084,000. Finally, Scientech Research LLC purchased a new position in Inspire Medical Systems in the 2nd quarter valued at $1,574,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on INSP shares. Truist Financial reiterated a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Robert W. Baird increased their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

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.