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

Citigroup Inc. trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 45.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,771 shares of the company's stock after selling 14,742 shares during the quarter. Citigroup Inc. owned approximately 0.06% of Inspire Medical Systems worth $3,751,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of Inspire Medical Systems by 101.6% in the second quarter. CWM LLC now owns 1,246 shares of the company's stock worth $167,000 after buying an additional 628 shares during the last quarter. SG Americas Securities LLC lifted its holdings in Inspire Medical Systems by 114.2% during the second quarter. SG Americas Securities LLC now owns 6,228 shares of the company's stock valued at $833,000 after purchasing an additional 3,321 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Inspire Medical Systems by 118.5% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 3,079 shares of the company's stock worth $412,000 after purchasing an additional 1,670 shares in the last quarter. Neo Ivy Capital Management acquired a new position in shares of Inspire Medical Systems during the 2nd quarter worth about $2,850,000. Finally, Pallas Capital Advisors LLC purchased a new position in Inspire Medical Systems in the 2nd quarter valued at about $404,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Down 2.7 %

Shares of Inspire Medical Systems stock traded down $5.32 on Thursday, hitting $191.60. The company's stock had a trading volume of 348,402 shares, compared to its average volume of 592,178. The firm has a fifty day moving average price of $196.85 and a 200-day moving average price of $177.06. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The company has a market capitalization of $5.74 billion, a P/E ratio of 184.04 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. During the same quarter in the prior year, the company earned ($0.29) EPS. Inspire Medical Systems's revenue was up 32.6% on a year-over-year basis. As a group, analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Stifel Nicolaus reaffirmed a "hold" rating and issued a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Piper Sandler reissued an "overweight" rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Leerink Partners upped their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a research report on Tuesday, September 10th. Truist Financial reiterated a "buy" rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $233.58.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company's stock, valued at approximately $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 available at the SEC website. 4.10% of the stock is currently owned by insiders.

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.