Inspire Medical Systems, Inc. (NYSE:INSP) Insider Sells $916,541.55 in Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at $576,208.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Inspire Medical Systems Price Performance

Shares of INSP traded up $5.10 on Monday, hitting $193.85. The company’s stock had a trading volume of 339,825 shares, compared to its average volume of 603,503. The company has a market capitalization of $5.76 billion, a PE ratio of -343.18 and a beta of 1.31. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company has a 50 day moving average price of $152.12 and a 200 day moving average price of $181.57.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The business’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.41) EPS. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 0.15 EPS for the current year.

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently made changes to their positions in the business. Quarry LP raised its position in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares during the last quarter. Creative Planning increased its position in shares of Inspire Medical Systems by 12.4% in the 2nd quarter. Creative Planning now owns 2,575 shares of the company’s stock valued at $345,000 after buying an additional 284 shares in the last quarter. Algert Global LLC increased its position in shares of Inspire Medical Systems by 15.8% in the 2nd quarter. Algert Global LLC now owns 18,592 shares of the company’s stock valued at $2,488,000 after buying an additional 2,542 shares in the last quarter. Scientech Research LLC bought a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at $1,574,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of Inspire Medical Systems by 0.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after buying an additional 92 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on INSP shares. Bank of America decreased their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. KeyCorp decreased their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Stifel Nicolaus lowered their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Finally, Morgan Stanley lowered their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average target price of $219.79.

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.