Proficio Capital Partners LLC Takes $4.12 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

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

A number of other large investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC raised its position in shares of Inspire Medical Systems by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock worth $1,461,000 after buying an additional 79 shares during the period. Nisa Investment Advisors LLC raised its position 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 buying an additional 100 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Inspire Medical Systems by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company's stock worth $2,688,000 after buying an additional 100 shares during the period. Quarry LP raised its position 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 buying an additional 106 shares during the period. Finally, TriaGen Wealth Management LLC raised its position in shares of Inspire Medical Systems by 5.4% in the 4th quarter. TriaGen Wealth Management LLC now owns 2,137 shares of the company's stock worth $396,000 after buying an additional 110 shares during the period. Hedge funds and other institutional investors own 94.91% of the company's stock.

Remove Ads

Inspire Medical Systems Price Performance

NYSE:INSP traded up $8.24 during mid-day trading on Friday, reaching $183.34. The stock had a trading volume of 550,140 shares, compared to its average volume of 576,532. The company has a market capitalization of $5.44 billion, a price-to-earnings ratio of 105.98, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The stock's 50 day simple moving average is $187.08 and its two-hundred day simple moving average is $192.70.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS 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%. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the firm's stock in a transaction dated 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 transaction, the insider now owns 7,259 shares of the company's stock, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO John Rondoni sold 583 shares of the firm's stock in a transaction dated 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 transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This 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. Corporate insiders own 4.10% of the company's stock.

Wall Street Analyst Weigh In

INSP has been the topic of several research reports. Morgan Stanley cut their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 11th. Truist Financial cut their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus cut their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Wells Fargo & Company cut their price objective on 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. Finally, KeyCorp reissued an "overweight" rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $228.82.

Inspire Medical Systems Company 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.