Federated Hermes Inc. Sells 91,530 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Federated Hermes Inc. lessened its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 228,330 shares of the company's stock after selling 91,530 shares during the period. Federated Hermes Inc. owned 0.76% of Inspire Medical Systems worth $42,328,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mutual of America Capital Management LLC grew its stake in Inspire Medical Systems by 1.2% in 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 position 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. raised its stake in shares of Inspire Medical Systems by 2.2% during the 4th quarter. Xponance Inc. now owns 3,824 shares of the company's stock valued at $709,000 after purchasing an additional 82 shares during the period. Harbour Investments Inc. raised its stake 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 purchasing an additional 99 shares during the period. Finally, Nisa Investment Advisors LLC lifted its holdings in Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock worth $68,000 after purchasing an additional 100 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

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Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the business's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. The trade was a 77.90 % 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, CTO John Rondoni sold 583 shares of the firm'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 sale, the chief technology officer now 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. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded up $2.52 during midday trading on Friday, hitting $147.10. 335,977 shares of the company traded hands, compared to its average volume of 591,930. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a 50-day moving average price of $169.67 and a 200 day moving average price of $185.12. The firm has a market cap of $4.38 billion, a P/E ratio of 85.03, 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 EPS for the quarter, beating analysts' consensus estimates 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, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on INSP shares. Royal Bank of Canada reiterated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Truist Financial dropped their price objective on 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. Robert W. Baird dropped their price target on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Finally, Piper Sandler dropped their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus 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.