Victory Capital Management Inc. Reduces Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Victory Capital Management Inc. reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 77,469 shares of the company's stock after selling 5,380 shares during the period. Victory Capital Management Inc. owned 0.26% of Inspire Medical Systems worth $14,361,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in INSP. First Horizon Advisors Inc. increased its stake in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after purchasing an additional 124 shares during the last quarter. True Wealth Design LLC purchased a new position in Inspire Medical Systems in the third quarter valued at approximately $30,000. Farther Finance Advisors LLC grew its position in shares of Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after acquiring an additional 139 shares during the last quarter. Smartleaf Asset Management LLC grew its position 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 worth $66,000 after acquiring an additional 229 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Inspire Medical Systems by 37.3% during the fourth 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 last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. 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 report on Tuesday, February 11th. Stifel Nicolaus lowered their target price on shares of 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. Bank of America upgraded shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and raised their target price for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Piper Sandler lowered their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. 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 report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $228.82.

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Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction 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 owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available 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 value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $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 quarter, insiders sold 26,225 shares of company stock valued at $4,806,530. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $163.01 on Thursday. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The business has a fifty day moving average of $186.26 and a two-hundred day moving average of $192.40. The company has a market cap of $4.84 billion, a P/E ratio of 94.22, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating 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 predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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.

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