Insider Selling: Inspire Medical Systems, Inc. (NYSE:INSP) Insider Sells 4,861 Shares of Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 4,861 shares of the 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 sale, the insider now owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Inspire Medical Systems Trading Up 2.7 %

INSP stock traded up $5.10 during mid-day trading on Monday, hitting $193.85. The stock had a trading volume of 339,825 shares, compared to its average volume of 603,503. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a market capitalization of $5.76 billion, a P/E ratio of -343.18 and a beta of 1.31. The firm has a fifty day simple moving average of $152.12 and a 200 day simple moving average of $181.57.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.46. The company had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The firm’s revenue was up 29.6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.41) EPS. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 0.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in INSP. Van ECK Associates Corp raised its stake in shares of Inspire Medical Systems by 7.5% during the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after acquiring an additional 72 shares during the last quarter. Amalgamated Bank raised its stake in shares of Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after acquiring an additional 79 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Inspire Medical Systems by 0.4% during the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after acquiring an additional 92 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Inspire Medical Systems by 1.2% during the first 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 period. Finally, Qsemble Capital Management LP increased its position in shares of Inspire Medical Systems by 2.5% during the fourth quarter. Qsemble Capital Management LP now owns 4,253 shares of the company’s stock worth $865,000 after buying an additional 105 shares during the period. Institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on INSP shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Robert W. Baird cut their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Truist Financial cut their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating for the company in a research note on Tuesday, July 16th. Bank of America cut their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Finally, 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 research note on Wednesday, August 7th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.79.

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.