SG Americas Securities LLC Trims Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

SG Americas Securities LLC decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 57.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,642 shares of the company’s stock after selling 3,586 shares during the quarter. SG Americas Securities LLC’s holdings in Inspire Medical Systems were worth $558,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in INSP. Wellington Management Group LLP grew its position in shares of Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares during the period. Baillie Gifford & Co. grew its holdings in Inspire Medical Systems by 19.3% during the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after purchasing an additional 237,734 shares during the period. Bank of New York Mellon Corp increased its position in Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after buying an additional 192,238 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after buying an additional 140,090 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on 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 transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock valued at $1,099,207 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Down 5.5 %

Shares of Inspire Medical Systems stock opened at $198.91 on Wednesday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a 50 day moving average of $199.38 and a 200 day moving average of $182.86. The firm 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 posted its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. During the same period in the prior year, the company earned ($0.41) EPS. The company’s quarterly revenue was up 29.6% compared to the same quarter last year. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

INSP has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Morgan Stanley reduced their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a research report on Monday, June 24th. Leerink Partners upped their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $216.62.

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.