Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 11.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,352 shares of the company's stock after selling 9,384 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.24% of Inspire Medical Systems worth $13,598,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. First Horizon Advisors Inc. grew its position in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after buying an additional 124 shares during the period. True Wealth Design LLC purchased a new stake in Inspire Medical Systems in the third quarter worth about $30,000. Harbour Investments Inc. raised its holdings in Inspire Medical Systems by 101.0% in the fourth 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 increased its position in shares of Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after acquiring an additional 291 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock worth $66,000 after acquiring an additional 229 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

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Insiders Place Their Bets

In related news, CTO John Rondoni sold 583 shares of the company's stock in a transaction that occurred 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly owns 7,259 shares in the company, 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 three months, insiders sold 26,225 shares of company stock worth $4,806,530. Corporate insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

INSP has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of 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 dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus reduced their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Piper Sandler dropped their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Finally, Robert W. Baird reduced their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. Three equities 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.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $226.70.

Inspire Medical Systems Price Performance

NYSE:INSP traded up $5.58 during trading hours on Wednesday, hitting $163.56. 158,646 shares of the company were exchanged, compared to its average volume of 539,415. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a market capitalization of $4.87 billion, a price-to-earnings ratio of 94.54, a PEG ratio of 2.86 and a beta of 1.48. The company's 50 day moving average price is $178.23 and its 200-day moving average price is $189.28.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share 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.