Cornercap Investment Counsel Inc. Makes New Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

Cornercap Investment Counsel Inc. purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 2,366 shares of the company's stock, valued at approximately $439,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its stake in shares of Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. True Wealth Design LLC acquired a new position in shares of Inspire Medical Systems during the 3rd quarter worth about $30,000. Harbour Investments Inc. increased its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after acquiring an additional 99 shares during the last quarter. AlphaQuest LLC raised its position in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after acquiring an additional 291 shares during the period. Finally, Smartleaf Asset Management LLC boosted its stake in Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after acquiring an additional 229 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Robert W. Baird reduced their target price on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Wells Fargo & Company cut their target price on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. KeyCorp reiterated an "overweight" rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Finally, Truist Financial reduced their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.70.

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Inspire Medical Systems Stock Performance

INSP traded down $1.54 during trading on Tuesday, reaching $157.74. 462,298 shares of the company traded hands, compared to its average volume of 588,313. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The firm has a fifty day simple moving average of $178.78 and a 200 day simple moving average of $189.61. The company has a market cap of $4.69 billion, a P/E ratio of 91.18, a PEG ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the firm's stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock worth $4,806,530 over the last quarter. Insiders own 4.10% of the company's stock.

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.