Proficio Capital Partners LLC Buys Shares of 22,246 Inspire Medical Systems, Inc. (NYSE:INSP)

Proficio Capital Partners LLC acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,246 shares of the company's stock, valued at approximately $4,124,000. Proficio Capital Partners LLC owned approximately 0.07% of Inspire Medical Systems as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings 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 acquiring an additional 124 shares during the period. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems in the 3rd quarter worth about $30,000. 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 worth $66,000 after acquiring an additional 229 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of 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 acquiring an additional 100 shares during the period. Finally, Quarry LP increased its holdings in shares of Inspire Medical Systems by 30.9% in the 3rd quarter. Quarry LP now owns 449 shares of the company's stock worth $95,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

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Inspire Medical Systems Price Performance

Shares of INSP traded up $1.64 during mid-day trading on Friday, hitting $164.39. The company's stock had a trading volume of 560,371 shares, compared to its average volume of 579,638. The firm has a 50-day moving average price of $181.05 and a 200 day moving average price of $191.43. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 95.02, a PEG ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

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, topping 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%. As a group, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INSP. 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. Robert W. Baird lowered their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reissued an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Wells Fargo & Company lowered 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 note on Tuesday, February 11th. Finally, Morgan Stanley lowered their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $228.82.

Insiders Place Their Bets

In related news, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of the firm'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 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 represents a 5.30 % 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 over the last ninety days. 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.