Envestnet Asset Management Inc. Boosts Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Envestnet Asset Management Inc. boosted its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 25,667 shares of the company's stock after purchasing an additional 1,752 shares during the quarter. Envestnet Asset Management Inc. owned about 0.09% of Inspire Medical Systems worth $4,758,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mutual of America Capital Management LLC grew its holdings in Inspire Medical Systems by 1.2% during the 4th quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock valued at $842,000 after buying an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock valued at $1,461,000 after purchasing an additional 79 shares in the last quarter. Xponance Inc. increased its position in Inspire Medical Systems by 2.2% in the fourth quarter. Xponance Inc. now owns 3,824 shares of the company's stock worth $709,000 after purchasing an additional 82 shares during the last quarter. Harbour Investments Inc. raised its stake in Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Inspire Medical Systems by 37.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $148.82 on Wednesday. The stock has a 50 day moving average price of $164.54 and a 200 day moving average price of $182.32. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The firm has a market capitalization of $4.43 billion, a P/E ratio of 86.03, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping 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 forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley reduced their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research note on Monday. Robert W. Baird decreased their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada dropped their target price on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price target on 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. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $218.90.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction 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 $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction on 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 $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

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.

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