Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni Sells 58 Shares

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 58 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $215.00, for a total value of $12,470.00. Following the completion of the transaction, the chief technology officer now directly owns 11,322 shares in the company, valued at $2,434,230. This trade represents a 0.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Inspire Medical Systems Stock Down 5.1 %

Shares of INSP traded down $10.86 during midday trading on Friday, reaching $203.03. 794,308 shares of the stock were exchanged, compared to its average volume of 588,019. The company has a market cap of $6.08 billion, a price-to-earnings ratio of 189.75 and a beta of 1.32. The firm has a 50 day simple moving average of $191.46 and a 200-day simple moving average of $182.92. 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 announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The company’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.29) earnings per share. Research analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. True Wealth Design LLC bought a new stake in shares of Inspire Medical Systems in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC boosted its holdings in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC grew its position in Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP increased its holdings in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. acquired a new position in shares of Inspire Medical Systems during the second quarter valued at about $53,000. 94.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on INSP. Bank of America upgraded 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. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $233.58.

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.