Atika Capital Management LLC Has $29.22 Million Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Atika Capital Management LLC cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 1.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 157,600 shares of the company's stock after selling 2,400 shares during the period. Inspire Medical Systems accounts for approximately 3.1% of Atika Capital Management LLC's investment portfolio, making the stock its 5th biggest holding. Atika Capital Management LLC owned about 0.53% of Inspire Medical Systems worth $29,216,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after buying an additional 124 shares in the last quarter. Huntington National Bank increased its holdings in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after purchasing an additional 121 shares during the last quarter. Harbour Investments Inc. boosted its position in shares of Inspire Medical Systems by 101.0% during 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 grew its position in Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after acquiring an additional 291 shares during the period. Finally, Quadrant Capital Group LLC increased its holdings in Inspire Medical Systems by 61.9% in the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock valued at $61,000 after purchasing an additional 125 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSP. Robert W. Baird decreased their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company reduced their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research report on Tuesday, February 11th. KeyCorp restated an "overweight" rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Truist Financial cut 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 research note on Tuesday, February 11th. Finally, Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $226.70.

Inspire Medical Systems Stock Up 0.9 %

Shares of INSP traded up $1.31 during mid-day trading on Friday, hitting $145.89. The stock had a trading volume of 93,684 shares, compared to its average volume of 589,403. The company has a market cap of $4.34 billion, a PE ratio of 84.23, a PEG ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The company's fifty day simple moving average is $170.67 and its two-hundred day simple moving average is $185.70.

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, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

About Inspire Medical Systems

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.