Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by AtonRa Partners

AtonRa Partners reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 7.6% in the fourth quarter, HoldingsChannel reports. The fund owned 3,163 shares of the company’s stock after selling 260 shares during the quarter. Inspire Medical Systems makes up 1.3% of AtonRa Partners’ holdings, making the stock its 18th largest holding. AtonRa Partners’ holdings in Inspire Medical Systems were worth $643,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in INSP. Arcadia Investment Management Corp MI lifted its position in shares of Inspire Medical Systems by 44.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares during the last quarter. Xponance Inc. raised its position in shares of Inspire Medical Systems by 2.2% during the third quarter. Xponance Inc. now owns 4,096 shares of the company’s stock worth $813,000 after purchasing an additional 88 shares during the period. Arizona State Retirement System lifted its holdings in shares of Inspire Medical Systems by 1.5% during the third quarter. Arizona State Retirement System now owns 8,306 shares of the company’s stock valued at $1,648,000 after purchasing an additional 124 shares during the last quarter. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at $27,000. Finally, NBC Securities Inc. acquired a new position in shares of Inspire Medical Systems in the 3rd quarter valued at $34,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

NYSE:INSP traded up $6.39 during mid-day trading on Monday, reaching $243.84. The stock had a trading volume of 448,340 shares, compared to its average volume of 527,660. The stock has a market cap of $7.39 billion, a P/E ratio of -329.20 and a beta of 1.37. The business’s 50 day moving average is $207.54 and its 200 day moving average is $185.97. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. During the same quarter in the prior year, the business posted $0.10 EPS. Inspire Medical Systems’s quarterly revenue was up 39.6% on a year-over-year basis. Equities analysts expect that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on INSP shares. Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective for the company. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 target price on the stock. Mizuho reaffirmed a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Finally, Truist Financial reiterated a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $272.20.

Insiders Place Their Bets

In related news, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now directly owns 3,029 shares in the company, valued at $551,308.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock valued at $15,664,278 over the last three months. 4.10% of the stock is currently owned by insiders.

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.