Sivik Global Healthcare LLC Acquires New Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Sivik Global Healthcare LLC bought a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 27,500 shares of the company’s stock, valued at approximately $5,594,000. Inspire Medical Systems accounts for approximately 2.3% of Sivik Global Healthcare LLC’s holdings, making the stock its 24th biggest position.

Other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its stake in Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock worth $193,870,000 after buying an additional 411,480 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new position in shares of Inspire Medical Systems in the 4th quarter valued at about $1,271,000. Gilliland Jeter Wealth Management LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $3,369,000. Calamos Advisors LLC acquired a new position in shares of Inspire Medical Systems during the 4th quarter worth about $1,929,000. Finally, OPTIMAS CAPITAL Ltd acquired a new stake in Inspire Medical Systems in the fourth quarter worth $3,861,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on INSP shares. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. KeyCorp initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Morgan Stanley started coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target for the company. Finally, Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a report on Friday, April 19th. They set an “outperform” rating and a $285.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $272.20.

Insider Activity

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 value of $556,950.60. Following the completion of the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the transaction, the director now owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock worth $15,664,278 over the last quarter. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 0.8 %

INSP traded down $1.95 during trading on Tuesday, hitting $241.66. The company’s stock had a trading volume of 234,975 shares, compared to its average volume of 524,136. The stock’s fifty day moving average price is $209.56 and its 200-day moving average price is $187.29. The firm has a market capitalization of $7.32 billion, a P/E ratio of -326.57 and a beta of 1.37. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00.

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

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.