Bank of New York Mellon Corp Sells 191,894 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bank of New York Mellon Corp decreased its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 24.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 580,871 shares of the company’s stock after selling 191,894 shares during the period. Bank of New York Mellon Corp owned about 1.94% of Inspire Medical Systems worth $107,682,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd bought a new position in shares of Inspire Medical Systems in the 4th quarter worth $461,000. Wealthspire Advisors LLC purchased a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $402,000. First Horizon Advisors Inc. boosted its stake in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares in the last quarter. Ieq Capital LLC boosted its stake in shares of Inspire Medical Systems by 781.5% in the 4th quarter. Ieq Capital LLC now owns 21,095 shares of the company’s stock valued at $3,911,000 after purchasing an additional 18,702 shares in the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $80,419,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Up 0.8 %

NYSE:INSP opened at $185.56 on Friday. The company has a 50-day moving average price of $187.87 and a 200-day moving average price of $193.10. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market cap of $5.51 billion, a price-to-earnings ratio of 107.26, a P/E/G ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on INSP. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Truist Financial cut 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 research note on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus dropped 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 report on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $228.82.

Insider Transactions at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock valued at $4,806,530. Company insiders own 4.10% of the company’s stock.

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.