Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Fmr LLC

Fmr LLC reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947,816 shares of the company’s stock after selling 90,950 shares during the quarter. Fmr LLC owned about 9.84% of Inspire Medical Systems worth $622,137,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Algert Global LLC raised its stake in Inspire Medical Systems by 145.1% during the 3rd quarter. Algert Global LLC now owns 45,563 shares of the company’s stock worth $9,616,000 after acquiring an additional 26,971 shares in the last quarter. Cerity Partners LLC increased its stake in Inspire Medical Systems by 409.2% in the third quarter. Cerity Partners LLC now owns 13,576 shares of the company’s stock valued at $2,865,000 after purchasing an additional 10,910 shares during the period. Eagle Asset Management Inc. increased its stake in Inspire Medical Systems by 82.4% in the third quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock valued at $51,269,000 after purchasing an additional 117,819 shares during the period. Charles Schwab Investment Management Inc. increased its stake in Inspire Medical Systems by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 281,165 shares of the company’s stock valued at $59,340,000 after purchasing an additional 11,939 shares during the period. Finally, Intech Investment Management LLC increased its stake in Inspire Medical Systems by 15.4% in the third quarter. Intech Investment Management LLC now owns 14,220 shares of the company’s stock valued at $3,001,000 after purchasing an additional 1,894 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on INSP. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Leerink Partners lifted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Piper Sandler restated an “overweight” rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Trading Up 2.6 %

INSP stock opened at $194.00 on Friday. The company has a market cap of $5.81 billion, a P/E ratio of 181.31 and a beta of 1.36. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company’s 50-day moving average price is $198.36 and its 200 day moving average price is $175.98.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Inspire Medical Systems 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.