Mitsubishi UFJ Asset Management Co. Ltd. Has $617,000 Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Mitsubishi UFJ Asset Management Co. Ltd. trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,103 shares of the company's stock after selling 1,633 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.'s holdings in Inspire Medical Systems were worth $617,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. First Horizon Advisors Inc. boosted its position in 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 purchasing an additional 124 shares during the period. Harbour Investments Inc. raised its position in shares of 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 period. AlphaQuest LLC lifted its stake in shares of 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. Smartleaf Asset Management LLC lifted its stake in shares of Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after buying an additional 229 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after buying an additional 100 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

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Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Robert W. Baird cut 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. Wells Fargo & Company dropped their price target on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $226.70.

Inspire Medical Systems Price Performance

NYSE:INSP traded up $7.79 during mid-day trading on Monday, reaching $149.72. The stock had a trading volume of 1,071,578 shares, compared to its average volume of 591,223. 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 capitalization of $4.46 billion, a PE ratio of 86.54, a P/E/G ratio of 2.86 and a beta of 1.39. The stock has a 50-day simple moving average of $175.25 and a two-hundred day simple moving average of $187.63.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued 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 return on equity of 8.19% and a net margin of 6.67%. Equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, 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 transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the business's 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 sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock worth $4,806,530 over the last 90 days. Insiders own 4.10% of the company's stock.

About Inspire Medical Systems

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.