Arizona State Retirement System Boosts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Arizona State Retirement System raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,655 shares of the company’s stock after purchasing an additional 100 shares during the period. Arizona State Retirement System’s holdings in Inspire Medical Systems were worth $1,604,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INSP. Proficio Capital Partners LLC purchased a new position in shares of Inspire Medical Systems in the fourth quarter worth about $4,124,000. M&T Bank Corp lifted its stake in shares of Inspire Medical Systems by 9.2% in the fourth quarter. M&T Bank Corp now owns 3,526 shares of the company’s stock worth $654,000 after buying an additional 298 shares in the last quarter. Keybank National Association OH lifted its stake in shares of Inspire Medical Systems by 0.3% in the fourth quarter. Keybank National Association OH now owns 200,759 shares of the company’s stock worth $37,217,000 after buying an additional 586 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new position in shares of Inspire Medical Systems in the fourth quarter worth about $200,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Inspire Medical Systems by 5.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 296,207 shares of the company’s stock worth $54,911,000 after buying an additional 15,042 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred 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 transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred 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 owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,225 shares of company stock worth $4,806,530. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP opened at $163.01 on Thursday. 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 $4.84 billion, a PE ratio of 94.22, a P/E/G ratio of 2.86 and a beta of 1.48. The firm has a 50-day simple moving average of $186.26 and a two-hundred day simple moving average of $192.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

INSP has been the topic of several research reports. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Stifel Nicolaus reduced their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Morgan Stanley reduced their target price 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. Piper Sandler reduced 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 note on Monday, February 10th. Finally, Robert W. Baird reduced their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $228.82.

Inspire Medical Systems 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.