Vanguard Group Inc. Purchases 38,219 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Vanguard Group Inc. lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,270,357 shares of the company’s stock after purchasing an additional 38,219 shares during the quarter. Vanguard Group Inc. owned 10.91% of Inspire Medical Systems worth $606,259,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC lifted its holdings in Inspire Medical Systems by 1.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company’s stock worth $842,000 after acquiring an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its position in shares of Inspire Medical Systems by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock worth $1,461,000 after purchasing an additional 79 shares during the period. Xponance Inc. lifted its holdings in shares of Inspire Medical Systems by 2.2% during the 4th quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after purchasing an additional 82 shares in the last quarter. Harbour Investments Inc. grew its position in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. Finally, Nisa Investment Advisors LLC grew its position in shares of Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $156.91 on Monday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market capitalization of $4.67 billion, a PE ratio of 90.70, a P/E/G ratio of 2.86 and a beta of 1.48. The company’s 50-day moving average is $179.14 and its 200-day moving average is $189.92.

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, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on INSP. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Robert W. Baird cut their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Morgan Stanley cut their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Piper Sandler decreased their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $226.70.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 value of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was 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 quarter. 4.10% of the stock is currently owned by insiders.

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.