Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni Sells 4,387 Shares

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 4,387 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $194.40, for a total value of $852,832.80. Following the sale, the chief technology officer now owns 11,270 shares in the company, valued at approximately $2,190,888. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Inspire Medical Systems Stock Performance

INSP opened at $213.36 on Thursday. The firm has a market cap of $6.46 billion, a P/E ratio of -288.32 and a beta of 1.35. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00. The business’s fifty day moving average is $198.23 and its 200-day moving average is $181.19.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (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 return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s quarterly revenue was up 39.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.10 EPS. On average, research analysts predict that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

INSP has been the topic of a number of research analyst reports. Wells Fargo & Company cut Inspire Medical Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $245.00 to $187.00 in a research note on Wednesday, December 13th. Stifel Nicolaus restated a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. KeyCorp initiated coverage on 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. Truist Financial restated a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group initiated coverage on Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.29.

Institutional Trading of Inspire Medical Systems

Several large investors have recently modified their holdings of INSP. FMR LLC grew its holdings in shares of Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after purchasing an additional 1,397,510 shares in the last quarter. Baillie Gifford & Co. grew its holdings in shares of Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after purchasing an additional 1,212,175 shares in the last quarter. Wellington Management Group LLP boosted its stake in Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after buying an additional 453,294 shares in the last quarter. Frontier Capital Management Co. LLC boosted its stake in Inspire Medical Systems by 105.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after buying an additional 380,362 shares in the last quarter. Finally, Jennison Associates LLC boosted its stake in Inspire Medical Systems by 648.2% in the fourth quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock valued at $62,023,000 after buying an additional 264,139 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

About Inspire Medical Systems

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.