MassMutual Private Wealth & Trust FSB Sells 540 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

MassMutual Private Wealth & Trust FSB lessened its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 5.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,699 shares of the company’s stock after selling 540 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Inspire Medical Systems were worth $1,545,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in shares of Inspire Medical Systems by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company’s stock valued at $606,259,000 after acquiring an additional 38,219 shares in the last quarter. Dragoneer Investment Group LLC bought a new position in shares of Inspire Medical Systems in the 4th quarter valued at about $161,486,000. Invesco Ltd. grew its holdings in shares of Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company’s stock valued at $147,021,000 after acquiring an additional 99,030 shares in the last quarter. Janus Henderson Group PLC grew its holdings in shares of Inspire Medical Systems by 12.9% in the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company’s stock valued at $105,173,000 after acquiring an additional 64,703 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company’s stock valued at $90,188,000 after acquiring an additional 2,687 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the subject of several analyst reports. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Morgan Stanley cut their target price on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus cut their target price 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. Robert W. Baird raised their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an “outperform” rating in a research note on Tuesday, May 6th. Finally, KeyCorp cut their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an “overweight” rating for the company in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $211.91.

Inspire Medical Systems Trading Down 0.2%

NYSE INSP opened at $138.04 on Friday. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $225.00. The company has a 50 day moving average of $151.44 and a 200-day moving average of $173.20. The company has a market cap of $4.07 billion, a price-to-earnings ratio of 79.79, a PEG ratio of 2.86 and a beta of 1.39.

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

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The shares were 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 of the company’s stock, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by insiders.

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.