Wealthfront Advisers LLC Purchases New Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Wealthfront Advisers LLC purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 9,574 shares of the company's stock, valued at approximately $1,762,000.

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after buying an additional 124 shares during the last quarter. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems in the 3rd quarter worth $30,000. Farther Finance Advisors LLC increased its holdings in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after buying an additional 139 shares during the last quarter. AlphaQuest LLC increased its holdings 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 worth $55,000 after buying an additional 291 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after buying an additional 229 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock valued at $4,806,530. Company insiders own 4.10% of the company's stock.

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Analysts Set New Price Targets

INSP has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and increased their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. KeyCorp reaffirmed an "overweight" rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average price target of $228.82.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock traded up $0.24 during trading hours on Wednesday, reaching $162.60. The stock had a trading volume of 375,511 shares, compared to its average volume of 580,994. The stock has a market cap of $4.82 billion, a PE ratio of 93.99, a PEG ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company has a fifty day simple moving average of $183.11 and a 200-day simple moving average of $191.83.

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

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.