Riverbridge Partners LLC Sells 9,706 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Riverbridge Partners LLC cut its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 6.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 132,391 shares of the company’s stock after selling 9,706 shares during the period. Riverbridge Partners LLC’s holdings in Inspire Medical Systems were worth $21,087,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of INSP. First Horizon Advisors Inc. grew its holdings in Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. Huntington National Bank boosted its holdings in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after buying an additional 121 shares during the period. Parallel Advisors LLC boosted its holdings in shares of 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 buying an additional 164 shares during the period. True Wealth Design LLC lifted its position in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after purchasing an additional 55 shares in the last quarter. Finally, Harbour Investments Inc. lifted its position 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 in the last quarter. 94.91% of the stock is owned by institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In related news, 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 transaction of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE INSP opened at $129.95 on Friday. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 59.88, a PEG ratio of 1.98 and a beta of 1.28. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $225.00. The business’s fifty day moving average is $145.97 and its 200-day moving average is $168.12.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. Inspire Medical Systems’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. Research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating on the stock in a research report on Monday, April 21st. Wells Fargo & Company dropped their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. KeyCorp decreased their price target 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. Finally, Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $211.91.

Inspire Medical Systems 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.