Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Truist Financial Corp

Truist Financial Corp cut its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 20.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,625 shares of the company’s stock after selling 1,190 shares during the period. Truist Financial Corp’s holdings in Inspire Medical Systems were worth $619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp boosted its stake in Inspire Medical Systems by 7.5% in the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after purchasing an additional 72 shares in the last quarter. Amalgamated Bank raised its position in Inspire Medical Systems by 4.1% during the 2nd quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after buying an additional 79 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Inspire Medical Systems by 0.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after buying an additional 92 shares during the last quarter. Bessemer Group Inc. raised its position in Inspire Medical Systems by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after buying an additional 100 shares during the last quarter. Finally, Gilliland Jeter Wealth Management LLC raised its position in Inspire Medical Systems by 0.8% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after buying an additional 125 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Leerink Partners raised their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. KeyCorp cut their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, Morgan Stanley cut their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $216.62.

Insider Activity

In other news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,692 shares of company stock valued at $1,099,207. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Stock Down 5.5 %

Shares of INSP opened at $198.91 on Wednesday. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The firm’s fifty day moving average is $199.38 and its two-hundred day moving average is $182.86. The stock has a market cap of $5.91 billion, a PE ratio of -361.65 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. The company had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.41) EPS. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

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.