Inspire Medical Systems (NYSE:INSP) Shares Down 2.9% After Insider Selling

Inspire Medical Systems, Inc. (NYSE:INSP) shares dropped 2.9% during mid-day trading on Tuesday following insider selling activity. The stock traded as low as $198.88 and last traded at $199.21. Approximately 56,139 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 514,515 shares. The stock had previously closed at $205.16.

Specifically, CTO John Rondoni sold 4,387 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $194.40, for a total value of $852,832.80. Following the completion of the transaction, the chief technology officer now owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CTO John Rondoni sold 4,387 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $194.40, for a total value of $852,832.80. Following the completion of the transaction, the chief technology officer now owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the transaction, the director now directly owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders sold a total of 21,339 shares of company stock valued at $4,003,381 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on INSP shares. Jefferies Financial Group started coverage on Inspire Medical Systems in a research note on Friday, January 19th. They set a “buy” rating and a $245.00 price objective for the company. Wells Fargo & Company lowered 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 report 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 report on Tuesday, January 2nd. Mizuho reiterated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday. Finally, Truist Financial reiterated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $271.29.

Inspire Medical Systems Trading Up 0.7 %

The stock has a market capitalization of $6.52 billion, a PE ratio of -290.57 and a beta of 1.35. The company’s 50 day simple moving average is $198.23 and its 200 day simple moving average is $181.19.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. During the same period in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. As a group, analysts predict that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC boosted its position in Inspire Medical Systems by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock worth $1,585,000 after purchasing an additional 36 shares during the period. Metropolitan Life Insurance Co NY lifted its holdings in Inspire Medical Systems by 2.3% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock worth $437,000 after buying an additional 39 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its holdings in Inspire Medical Systems by 3.9% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,122 shares of the company’s stock worth $364,000 after buying an additional 42 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Inspire Medical Systems by 3.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,200 shares of the company’s stock worth $390,000 after buying an additional 43 shares in the last quarter. Finally, Pathstone Family Office LLC lifted its holdings in Inspire Medical Systems by 2.7% in the 3rd quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock worth $403,000 after buying an additional 59 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.