Inspire Medical Systems, Inc. (NYSE:INSP) Stock Holdings Cut by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. cut its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 34.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 3,103 shares of the company’s stock after selling 1,633 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Inspire Medical Systems were worth $617,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after buying an additional 229 shares in the last quarter. Merit Financial Group LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth $313,000. Public Employees Retirement System of Ohio grew its holdings in shares of Inspire Medical Systems by 9.4% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock worth $7,674,000 after acquiring an additional 3,125 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $8,821,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Inspire Medical Systems by 248.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after purchasing an additional 3,427 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Stifel Nicolaus cut their price objective 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. KeyCorp restated an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Wells Fargo & Company lowered their price objective on shares of 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 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 decreased their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $226.70.

Inspire Medical Systems Trading Up 1.1 %

INSP opened at $159.78 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 fifty day moving average price of $177.65 and a 200 day moving average price of $189.08. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 92.36, a PEG ratio of 2.86 and a beta of 1.48.

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 the consensus estimate 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, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of Inspire Medical Systems 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 transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 transaction of $4,694,664.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 26,225 shares of company stock valued at $4,806,530. Insiders own 4.10% of the company’s stock.

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.