Teacher Retirement System of Texas Raises Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Teacher Retirement System of Texas grew its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 171.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,679 shares of the company’s stock after purchasing an additional 8,649 shares during the period. Teacher Retirement System of Texas’ holdings in Inspire Medical Systems were worth $2,536,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State Street Corp grew its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after acquiring an additional 459,990 shares during the period. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter valued at about $80,419,000. Point72 Asset Management L.P. lifted its position in Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after buying an additional 289,075 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Inspire Medical Systems during the fourth quarter worth about $47,604,000. Finally, Riverbridge Partners LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter valued at about $26,342,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Trading Down 0.9 %

Inspire Medical Systems stock opened at $163.50 on Thursday. The company has a fifty day simple moving average of $179.84 and a 200-day simple moving average of $190.78. The stock has a market cap of $4.87 billion, a P/E ratio of 94.51, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data 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 8.19% and a net margin of 6.67%. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research report on Tuesday, February 11th. Finally, Robert W. Baird reduced their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

Insiders Place Their Bets

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

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.