Principal Financial Group Inc. Has $27.12 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Principal Financial Group Inc. boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 146,310 shares of the company's stock after acquiring an additional 5,221 shares during the period. Principal Financial Group Inc. owned about 0.49% of Inspire Medical Systems worth $27,123,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC bought a new stake in Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC raised its position in shares of Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after acquiring an additional 139 shares during the last quarter. Signaturefd LLC boosted its holdings in Inspire Medical Systems by 45.9% during the third 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. Nisa Investment Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after purchasing an additional 100 shares in the last quarter. Finally, Values First Advisors Inc. bought a new position in shares of Inspire Medical Systems during the third quarter worth about $91,000. Institutional investors own 94.91% of the company's stock.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of the 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 directly owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock worth $4,806,530 in the last ninety days. Insiders own 4.10% of the company's stock.

Remove Ads

Inspire Medical Systems Stock Up 4.4 %

Shares of INSP traded up $8.11 during midday trading on Wednesday, reaching $192.96. The company had a trading volume of 174,139 shares, compared to its average volume of 603,772. The stock has a market cap of $5.73 billion, a PE ratio of 111.59, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The firm has a 50 day simple moving average of $187.75 and a 200-day simple moving average of $193.21.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping 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%. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on INSP. Robert W. Baird dropped their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Bank of America upgraded Inspire Medical Systems from a "neutral" rating to a "buy" rating and upped their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, Piper Sandler reduced their price objective on shares of 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $228.82.

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.