Synovus Financial Corp Decreases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Synovus Financial Corp lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 45.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,906 shares of the company’s stock after selling 1,596 shares during the quarter. Synovus Financial Corp’s holdings in Inspire Medical Systems were worth $353,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Mutual of America Capital Management LLC boosted its stake in shares of Inspire Medical Systems by 1.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company’s stock valued at $842,000 after purchasing an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Inspire Medical Systems by 1.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after buying an additional 79 shares during the period. Xponance Inc. grew its stake in shares of Inspire Medical Systems by 2.2% during the fourth quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after buying an additional 82 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in shares of Inspire Medical Systems by 0.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 12,884 shares of the company’s stock worth $2,388,000 after buying an additional 90 shares during the period. Finally, Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after acquiring an additional 99 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $150.42 on Friday. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The stock has a market cap of $4.48 billion, a price-to-earnings ratio of 86.95, a PEG ratio of 2.86 and a beta of 1.39. The stock’s 50 day simple moving average is $166.82 and its two-hundred day simple moving average is $183.81.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. On average, analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Activity

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the 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 sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible 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 completion of the sale, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on INSP shares. Piper Sandler reduced their price target on 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. Morgan Stanley decreased 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 note on Tuesday, February 11th. Truist Financial dropped their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. KeyCorp restated an “overweight” rating and issued a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Wells Fargo & Company dropped their target price 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $222.20.

About Inspire Medical Systems

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.