Teacher Retirement System of Texas Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Teacher Retirement System of Texas boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 171.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,679 shares of the company's stock after acquiring an additional 8,649 shares during the quarter. Teacher Retirement System of Texas' holdings in Inspire Medical Systems were worth $2,536,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. First Horizon Advisors Inc. increased its position in shares of Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after acquiring an additional 124 shares during the period. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at about $30,000. Harbour Investments Inc. lifted its holdings in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after buying an additional 99 shares during the last quarter. AlphaQuest LLC lifted its holdings in Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after buying an additional 291 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after acquiring an additional 229 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Inspire Medical Systems Trading Down 2.5 %

Shares of NYSE INSP traded down $4.03 during midday trading on Friday, reaching $156.91. 336,302 shares of the company were exchanged, compared to its average volume of 589,789. The stock has a market cap of $4.67 billion, a P/E ratio of 90.70, a PEG ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock has a fifty day simple moving average of $179.14 and a 200 day simple moving average of $189.92.

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

Analyst Ratings Changes

Several research firms recently weighed in on INSP. Truist Financial decreased their target price 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. Royal Bank of Canada restated an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Morgan Stanley dropped 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 report on Tuesday, February 11th. Robert W. Baird reduced their price target 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. Finally, Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average price target of $226.70.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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. In the last quarter, insiders sold 26,225 shares of company stock worth $4,806,530. Company insiders own 4.10% of the company's stock.

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.