Proficio Capital Partners LLC Invests $4.12 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Proficio Capital Partners LLC acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 22,246 shares of the company’s stock, valued at approximately $4,124,000.

Other large investors also recently added to or reduced their stakes in the company. Mutual of America Capital Management LLC increased its position in Inspire Medical Systems by 1.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company’s stock worth $842,000 after buying an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Inspire Medical Systems by 1.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after acquiring an additional 79 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System raised its stake in Inspire Medical Systems by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock worth $2,688,000 after acquiring an additional 100 shares during the period. Finally, Quarry LP lifted its holdings in Inspire Medical Systems by 30.9% during the third quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after purchasing an additional 106 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Price Performance

NYSE INSP opened at $166.59 on Tuesday. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The business has a 50 day simple moving average of $184.16 and a two-hundred day simple moving average of $191.95. The stock has a market capitalization of $4.94 billion, a PE ratio of 96.29, a P/E/G ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last posted its 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%. On average, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on INSP shares. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Stifel Nicolaus decreased their price target 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. Wells Fargo & Company lowered their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Piper Sandler cut their target price on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Finally, Robert W. Baird lowered their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated 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 owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock valued at $4,806,530 in the last three months. Corporate insiders own 4.10% of the company’s stock.

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.