Sei Investments Co. Raises Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Sei Investments Co. increased its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 27.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 163,474 shares of the company's stock after purchasing an additional 35,486 shares during the period. Sei Investments Co. owned approximately 0.55% of Inspire Medical Systems worth $30,305,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in INSP. First Horizon Advisors Inc. grew its position in shares of Inspire Medical Systems by 885.7% during 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 bought a new position in Inspire Medical Systems during the third quarter worth $30,000. Harbour Investments Inc. grew 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 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 in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after purchasing an additional 229 shares during the period. 94.91% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several brokerages have recently commented on INSP. Wells Fargo & Company reduced their target price on 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. Royal Bank of Canada restated an "outperform" rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Stifel Nicolaus cut their target price 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. Robert W. Baird reduced their price target on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $226.70.

Inspire Medical Systems Stock Performance

INSP traded down $4.03 during mid-day trading on Friday, reaching $156.91. 336,302 shares of the stock were exchanged, compared to its average volume of 589,789. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock has a market capitalization of $4.67 billion, a PE ratio of 90.70, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The company has a 50 day moving average price of $179.14 and a two-hundred day moving average price of $190.04.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results 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 return on equity of 8.19% and a net margin of 6.67%. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value 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 approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 25,584 shares of the business'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 transaction, the insider now directly owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,225 shares of company stock worth $4,806,530. Corporate insiders own 4.10% of the company's stock.

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.