John Rondoni Sells 4,387 Shares of Inspire Medical Systems, Inc. (NYSE:INSP) Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CTO John Rondoni sold 4,387 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $194.40, for a total value of $852,832.80. Following the sale, the chief technology officer now directly owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $213.36 on Thursday. The stock has a fifty day moving average price of $198.23 and a two-hundred day moving average price of $181.19. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00. The firm has a market capitalization of $6.46 billion, a P/E ratio of -288.32 and a beta of 1.35.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. US Bancorp DE increased its stake in shares of Inspire Medical Systems by 11.3% in the first quarter. US Bancorp DE now owns 2,284 shares of the company’s stock valued at $586,000 after buying an additional 231 shares in the last quarter. HighTower Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the first quarter valued at $452,000. Private Advisor Group LLC acquired a new stake in shares of Inspire Medical Systems in the first quarter valued at $203,000. PNC Financial Services Group Inc. increased its stake in shares of Inspire Medical Systems by 668.6% in the first quarter. PNC Financial Services Group Inc. now owns 1,422 shares of the company’s stock valued at $364,000 after buying an additional 1,237 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in shares of Inspire Medical Systems by 4.0% in the first quarter. Bank of Montreal Can now owns 14,694 shares of the company’s stock valued at $3,838,000 after buying an additional 563 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective for the company. KeyCorp assumed coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective for the company. Finally, Wells Fargo & Company cut Inspire Medical Systems from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $245.00 to $187.00 in a research report on Wednesday, December 13th. Four research 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $271.29.

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.