Principal Financial Group Inc. Increases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Principal Financial Group Inc. boosted its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 3,812.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,089 shares of the company's stock after purchasing an additional 137,483 shares during the period. Principal Financial Group Inc. owned about 0.47% of Inspire Medical Systems worth $29,777,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC grew its position in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company's stock worth $38,000 after buying an additional 151 shares during the last quarter. SouthState Corp bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $27,000. Signaturefd LLC grew its position in shares of Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after buying an additional 85 shares during the last quarter. Finally, Quarry LP grew its position in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after buying an additional 176 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of the company's stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % 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. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business's stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company's stock, valued at approximately $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by insiders.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $5.12 during mid-day trading on Wednesday, hitting $185.63. The company's stock had a trading volume of 191,089 shares, compared to its average volume of 598,810. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The business has a 50-day moving average price of $203.34 and a 200 day moving average price of $178.59. The stock has a market cap of $5.56 billion, a price-to-earnings ratio of 176.31 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same quarter in the previous year, the business earned ($0.29) earnings per share. The company's revenue was up 32.6% on a year-over-year basis. Equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on INSP. Royal Bank of Canada restated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Piper Sandler restated an "overweight" rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Stifel Nicolaus restated a "hold" rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Truist Financial restated a "buy" rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $227.75.

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.