ExodusPoint Capital Management LP Boosts Position in Inspire Medical Systems, Inc. (NYSE:INSP)

ExodusPoint Capital Management LP grew its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 152,660 shares of the company's stock after purchasing an additional 32,602 shares during the quarter. ExodusPoint Capital Management LP owned 0.51% of Inspire Medical Systems worth $28,300,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Huntington National Bank grew its stake in Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after purchasing an additional 121 shares in the last quarter. Trexquant Investment LP purchased a new position in shares of Inspire Medical Systems in the 4th quarter valued at about $6,279,000. Geode Capital Management LLC grew its position in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after buying an additional 2,687 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Inspire Medical Systems by 8.7% during the fourth quarter. Franklin Resources Inc. now owns 221,560 shares of the company's stock worth $41,073,000 after buying an additional 17,666 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG raised its holdings in Inspire Medical Systems by 46.9% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 13,425 shares of the company's stock valued at $2,489,000 after acquiring an additional 4,285 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Remove Ads

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, 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 completion of the transaction, the chief technology officer now owns 10,424 shares in the company, 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 legal filing with the SEC, which can be accessed through this link. Also, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction 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 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 disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Inspire Medical Systems Stock Down 2.1 %

NYSE:INSP traded down $3.20 during mid-day trading on Tuesday, reaching $146.48. 153,731 shares of the stock were exchanged, compared to its average volume of 589,603. The company has a 50 day simple moving average of $175.25 and a 200-day simple moving average of $187.63. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock has a market capitalization of $4.36 billion, a P/E ratio of 84.49, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted 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, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Piper Sandler lowered their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. KeyCorp reissued an "overweight" rating and issued a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Robert W. Baird dropped their price objective 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. Finally, Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $226.70.

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.