Geode Capital Management LLC Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Geode Capital Management LLC boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 0.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 486,341 shares of the company's stock after acquiring an additional 2,687 shares during the quarter. Geode Capital Management LLC owned 1.62% of Inspire Medical Systems worth $90,188,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock worth $606,259,000 after purchasing an additional 38,219 shares in the last quarter. State Street Corp increased its stake in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after buying an additional 459,990 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $80,419,000. Allspring Global Investments Holdings LLC lifted its stake in Inspire Medical Systems by 21.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock worth $61,709,000 after acquiring an additional 58,447 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Inspire Medical Systems by 5.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 296,207 shares of the company's stock worth $54,911,000 after acquiring an additional 15,042 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several research firms have recently issued reports on INSP. Royal Bank of Canada decreased their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday. Morgan Stanley dropped their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Piper Sandler decreased their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Wells Fargo & Company dropped their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research note on Tuesday, February 11th. Finally, Robert W. Baird reduced their price objective on shares of 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. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $222.20.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the firm's 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 sale, the chief technology officer now owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 25,584 shares of the company's 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 transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % 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 insiders.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP traded down $4.02 on Tuesday, reaching $145.68. The company's stock had a trading volume of 114,249 shares, compared to its average volume of 589,299. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market capitalization of $4.34 billion, a P/E ratio of 84.21, a PEG ratio of 2.86 and a beta of 1.39. The stock's 50-day moving average is $168.82 and its two-hundred day moving average is $184.75.

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

Inspire Medical Systems Company 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.