Fmr LLC Cuts Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

FMR LLC decreased its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 14.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,519,534 shares of the company's stock after selling 428,282 shares during the period. FMR LLC owned 8.41% of Inspire Medical Systems worth $467,071,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in INSP. Smartleaf Asset Management LLC boosted its position in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after purchasing an additional 229 shares in the last quarter. Merit Financial Group LLC bought a new stake in Inspire Medical Systems in the 4th quarter worth about $313,000. Public Employees Retirement System of Ohio lifted its holdings in Inspire Medical Systems by 9.4% during the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company's stock worth $7,674,000 after acquiring an additional 3,125 shares during the period. Jennison Associates LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth about $8,821,000. Finally, Janney Montgomery Scott LLC boosted its stake in Inspire Medical Systems by 248.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock valued at $891,000 after acquiring an additional 3,427 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INSP shares. Robert W. Baird cut their price target 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. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley decreased 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 research note on Tuesday, February 11th. Piper Sandler lowered their price target on 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. Finally, Truist Financial dropped 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 report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems has an average rating of "Moderate Buy" and a consensus target price of $222.20.

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Inspire Medical Systems Trading Down 1.8 %

Shares of INSP stock traded down $2.67 during trading hours on Tuesday, reaching $147.03. 49,423 shares of the stock were exchanged, compared to its average volume of 589,055. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 85.02, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The company's 50-day moving average price is $168.82 and its 200-day moving average price is $184.75.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its 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 return on equity of 8.19% and a net margin of 6.67%. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of the business'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 owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently 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.