Prudential Financial Inc. Sells 654 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Prudential Financial Inc. trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,740 shares of the company’s stock after selling 654 shares during the quarter. Prudential Financial Inc. owned 0.10% of Inspire Medical Systems worth $4,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets boosted its stake in shares of Inspire Medical Systems by 99.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after purchasing an additional 2,352 shares during the period. Captrust Financial Advisors purchased a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $628,000. Verition Fund Management LLC bought a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $757,000. True Wealth Design LLC purchased a new stake in shares of Inspire Medical Systems in the third quarter worth approximately $30,000. Finally, Cinctive Capital Management LP purchased a new stake in shares of Inspire Medical Systems in the third quarter worth approximately $234,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 1.5 %

Shares of INSP stock opened at $159.60 on Tuesday. The company’s 50 day moving average is $178.78 and its 200 day moving average is $189.61. The firm has a market cap of $4.75 billion, a price-to-earnings ratio of 92.26, a PEG ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

INSP has been the topic of several research analyst reports. Wells Fargo & Company cut 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. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Truist Financial decreased their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Piper Sandler dropped 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, Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $226.70.

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.