First Trust Advisors LP Acquires Shares of 101,614 Inspire Medical Systems, Inc. (NYSE:INSP)

First Trust Advisors LP acquired a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 101,614 shares of the company’s stock, valued at approximately $18,837,000. First Trust Advisors LP owned 0.34% of Inspire Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently made changes to their positions in INSP. First Horizon Advisors Inc. boosted its position in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the period. Huntington National Bank boosted its holdings in shares of Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after purchasing an additional 121 shares during the period. Harbour Investments Inc. grew its stake in shares of 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 last quarter. AlphaQuest LLC increased its holdings in Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock valued at $55,000 after purchasing an additional 291 shares during the period. Finally, Quadrant Capital Group LLC raised its position in Inspire Medical Systems by 61.9% during the 4th quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock valued at $61,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on INSP shares. Truist Financial reduced their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. KeyCorp cut their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a research note on Monday, April 21st. Finally, Robert W. Baird cut their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” 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 seven have given a buy rating to the company. According to MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and a consensus price target of $218.90.

Inspire Medical Systems Stock Up 0.5 %

Shares of INSP opened at $158.97 on Friday. The stock has a market cap of $4.73 billion, a P/E ratio of 91.89, a P/E/G ratio of 2.86 and a beta of 1.39. The business’s 50 day moving average price is $162.86 and its 200-day moving average price is $181.25. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping 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%. On average, equities analysts anticipate 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.