Shawn Mccormick Sells 360 Shares of Inspire Medical Systems, Inc. (NYSE:INSP) Stock

Inspire Medical Systems, Inc. (NYSE:INSP) Director Shawn Mccormick sold 360 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director now directly owns 24,046 shares in the company, valued at approximately $3,847,360. This trade represents a 1.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Inspire Medical Systems Stock Up 2.0 %

Inspire Medical Systems stock opened at $161.93 on Wednesday. The stock has a market cap of $4.82 billion, a P/E ratio of 93.60, a P/E/G ratio of 2.86 and a beta of 1.39. The company’s 50 day moving average price is $159.46 and its two-hundred day moving average price is $179.13. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $256.11.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million for the quarter, compared to analysts’ expectations of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The business’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analyst Ratings Changes

INSP has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating on the stock in a report on Tuesday. Stifel Nicolaus reduced their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a report on Monday, April 21st. Royal Bank of Canada lowered their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Finally, Piper Sandler cut their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research note on Monday, February 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $211.91.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors have recently added to or reduced their stakes in the stock. First Horizon Advisors Inc. boosted 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 acquiring an additional 124 shares during the last quarter. Huntington National Bank raised its holdings in shares of Inspire Medical Systems by 228.3% in the 4th 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. Parallel Advisors LLC lifted its stake in Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock valued at $33,000 after purchasing an additional 164 shares during the last quarter. True Wealth Design LLC grew its holdings in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 55 shares during the period. Finally, Harbour Investments Inc. increased its position 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 buying an additional 99 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

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.