New Age Alpha Advisors LLC Takes $453,000 Position in Inspire Medical Systems, Inc. (NYSE:INSP)

New Age Alpha Advisors LLC purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 2,445 shares of the company's stock, valued at approximately $453,000.

Other institutional investors have also modified their holdings of the company. First Horizon Advisors Inc. grew its stake in 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 acquiring an additional 124 shares during the period. Harbour Investments Inc. grew 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 increased its stake in Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after purchasing an additional 291 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Inspire Medical Systems by 178.9% during the fourth 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 period. Finally, Nisa Investment Advisors LLC boosted 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 worth $68,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company dropped 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 research note on Tuesday, February 11th. Truist Financial cut their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Piper Sandler dropped their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Finally, Morgan Stanley reduced their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" 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 given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems has an average rating of "Moderate Buy" and a consensus price target of $226.70.

Inspire Medical Systems Trading Down 5.3 %

Shares of INSP traded down $7.92 during midday trading on Friday, reaching $141.49. 730,389 shares of the company were exchanged, compared to its average volume of 589,302. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The stock has a 50-day moving average price of $175.94 and a 200-day moving average price of $188.07. The company has a market cap of $4.21 billion, a price-to-earnings ratio of 81.78, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates 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 research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction 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 represents a 77.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction 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 completion of 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 disclosure for this sale can be found here. Over the last three months, insiders sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is currently owned by company insiders.

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.