Granite Investment Partners LLC Lowers Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Granite Investment Partners LLC lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 14.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,472 shares of the company's stock after selling 2,277 shares during the period. Granite Investment Partners LLC's holdings in Inspire Medical Systems were worth $2,497,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of INSP. First Horizon Advisors Inc. lifted its holdings in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after buying an additional 124 shares during the period. Huntington National Bank increased its holdings in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after purchasing an additional 121 shares during the last quarter. Harbour Investments Inc. increased its holdings in Inspire Medical Systems by 101.0% in 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 during the last quarter. AlphaQuest LLC lifted its stake in Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after buying an additional 291 shares during the period. Finally, Quadrant Capital Group LLC boosted its holdings in Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock worth $61,000 after buying an additional 125 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the business'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 transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 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 $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Trading Up 2.4 %

Shares of INSP traded up $3.51 during trading hours on Friday, reaching $150.42. 605,382 shares of the company's stock traded hands, compared to its average volume of 586,245. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a market cap of $4.48 billion, a PE ratio of 86.95, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The firm's 50 day simple moving average is $166.82 and its 200-day simple moving average is $183.81.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly 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 net margin of 6.67% and a return on equity of 8.19%. As a group, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler decreased 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. Morgan Stanley dropped their price target on 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. Robert W. Baird lowered their target price on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Truist Financial lowered their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp reaffirmed an "overweight" rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $222.20.

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.