Norges Bank Invests $10.68 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

Norges Bank bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 57,617 shares of the company's stock, valued at approximately $10,681,000. Norges Bank owned approximately 0.19% of Inspire Medical Systems as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its holdings in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after acquiring an additional 229 shares during the last quarter. Merit Financial Group LLC acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $313,000. Public Employees Retirement System of Ohio increased its stake in Inspire Medical Systems by 9.4% in the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company's stock valued at $7,674,000 after purchasing an additional 3,125 shares during the last quarter. Jennison Associates LLC acquired a new stake in Inspire Medical Systems during the fourth quarter worth approximately $8,821,000. Finally, Janney Montgomery Scott LLC lifted its position in shares of Inspire Medical Systems by 248.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company's stock worth $891,000 after buying an additional 3,427 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped 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. Stifel Nicolaus dropped their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a report on Tuesday, January 21st. Morgan Stanley reduced 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. Piper Sandler dropped their price target on 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, Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $226.70.

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Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the company's stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 11th. The shares were 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. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP traded up $2.52 during trading on Friday, reaching $147.10. The company had a trading volume of 335,977 shares, compared to its average volume of 591,930. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock's fifty day moving average price is $169.67 and its 200 day moving average price is $185.12. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 85.03, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.67% and a return on equity of 8.19%. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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.