Inspire Medical Systems, Inc. (NYSE:INSP) Insider Randy Ban Sells 25,584 Shares

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Inspire Medical Systems Trading Down 2.9 %

Shares of Inspire Medical Systems stock opened at $180.28 on Wednesday. The company’s fifty day simple moving average is $188.85 and its two-hundred day simple moving average is $192.69. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month 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.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dragoneer Investment Group LLC bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $161,486,000. State Street Corp lifted its position in Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $80,419,000. Point72 Asset Management L.P. increased its stake in shares of Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after acquiring an additional 289,075 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Inspire Medical Systems by 1,775.3% in the 4th quarter. Marshall Wace LLP now owns 277,131 shares of the company’s stock worth $51,375,000 after acquiring an additional 262,353 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on INSP shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Truist Financial decreased their price target 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. Piper Sandler lowered their price objective on 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. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Robert W. Baird lowered their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $228.82.

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.