Inspire Medical Systems, Inc. (NYSE:INSP) Insider Sells $4,694,664.00 in Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on 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 transaction, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

Inspire Medical Systems Price Performance

INSP stock opened at $180.28 on Wednesday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market cap of $5.40 billion, a P/E ratio of 168.49 and a beta of 1.32. The stock’s fifty day moving average price is $188.85 and its 200-day moving average price is $192.69.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. As a group, analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the business. Squarepoint Ops LLC boosted its stake in shares of Inspire Medical Systems by 185.4% during the 4th quarter. Squarepoint Ops LLC now owns 2,477 shares of the company’s stock worth $459,000 after acquiring an additional 5,377 shares during the last quarter. Two Sigma Investments LP lifted its position in Inspire Medical Systems by 9.3% during the fourth quarter. Two Sigma Investments LP now owns 16,384 shares of the company’s stock valued at $3,037,000 after purchasing an additional 1,398 shares in the last quarter. True Wealth Design LLC grew its holdings in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 55 shares during the period. Polar Asset Management Partners Inc. purchased a new stake in Inspire Medical Systems in the fourth quarter worth about $945,000. Finally, Man Group plc raised its stake in shares of Inspire Medical Systems by 112.7% in the fourth quarter. Man Group plc now owns 175,926 shares of the company’s stock worth $32,613,000 after buying an additional 93,214 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INSP shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price target for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Finally, Truist Financial cut their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $228.82.

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.