AtonRa Partners Reduces Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

AtonRa Partners lessened its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 7.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,163 shares of the company’s stock after selling 260 shares during the period. Inspire Medical Systems makes up 1.3% of AtonRa Partners’ holdings, making the stock its 18th biggest position. AtonRa Partners’ holdings in Inspire Medical Systems were worth $643,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new position in shares of Inspire Medical Systems during the 3rd quarter valued at about $1,452,000. Harbor Capital Advisors Inc. lifted its holdings in Inspire Medical Systems by 96.0% in the third quarter. Harbor Capital Advisors Inc. now owns 2,483 shares of the company’s stock valued at $493,000 after acquiring an additional 1,216 shares during the period. Commonwealth Equity Services LLC boosted its position in Inspire Medical Systems by 5.5% in the 3rd quarter. Commonwealth Equity Services LLC now owns 7,253 shares of the company’s stock worth $1,439,000 after purchasing an additional 381 shares in the last quarter. Arcadia Investment Management Corp MI grew its stake in shares of Inspire Medical Systems by 44.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company’s stock worth $44,000 after purchasing an additional 69 shares during the period. Finally, Xponance Inc. grew its stake in shares of Inspire Medical Systems by 2.2% during the 3rd quarter. Xponance Inc. now owns 4,096 shares of the company’s stock worth $813,000 after purchasing an additional 88 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Richard Buchholz sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on INSP shares. Truist Financial reissued a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. KeyCorp initiated coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target for the company. Mizuho reiterated a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP traded up $6.39 during mid-day trading on Monday, reaching $243.84. The company’s stock had a trading volume of 448,340 shares, compared to its average volume of 527,660. The stock has a market capitalization of $7.39 billion, a P/E ratio of -329.20 and a beta of 1.37. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00. The stock has a 50-day moving average of $207.54 and a two-hundred day moving average of $185.97.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business’s revenue was up 39.6% on a year-over-year basis. During the same period last year, the company posted $0.10 EPS. Analysts predict that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal 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.