KLP Kapitalforvaltning AS Takes $1.19 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

KLP Kapitalforvaltning AS acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 6,400 shares of the company's stock, valued at approximately $1,186,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP grew its holdings in shares of Inspire Medical Systems by 1.6% during the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock valued at $279,318,000 after acquiring an additional 20,481 shares in the last quarter. State Street Corp boosted its position in Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after purchasing an additional 459,990 shares during the last quarter. Janus Henderson Group PLC grew its stake in Inspire Medical Systems by 5.8% in the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after purchasing an additional 27,374 shares in the last quarter. Geode Capital Management LLC increased its position in Inspire Medical Systems by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock worth $102,102,000 after purchasing an additional 3,128 shares during the last quarter. Finally, TimesSquare Capital Management LLC purchased a new stake in shares of Inspire Medical Systems during the 4th quarter worth about $80,419,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred 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 sale, the chief technology officer now owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 25,584 shares of the company'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 transaction, the insider now owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90 % 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. 4.10% of the stock is currently owned by insiders.

Remove Ads

Wall Street Analyst Weigh In

Several brokerages recently commented on INSP. KeyCorp reissued an "overweight" rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research note on Tuesday, January 21st. 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 note on Monday, February 10th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Finally, Truist Financial cut their target price 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. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $226.70.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded down $10.35 during trading on Thursday, reaching $149.21. The company's stock had a trading volume of 496,249 shares, compared to its average volume of 588,413. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The firm has a market cap of $4.44 billion, a price-to-earnings ratio of 86.25, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The business's fifty day moving average price is $176.89 and its 200-day moving average price is $188.80.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued 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%. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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.