Eventide Asset Management LLC Sells 149,643 Shares of Inspire Medical Systems, Inc. $INSP

Eventide Asset Management LLC trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 48.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 156,658 shares of the company’s stock after selling 149,643 shares during the period. Eventide Asset Management LLC owned approximately 0.53% of Inspire Medical Systems worth $20,330,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of INSP. Farther Finance Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 14.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock valued at $78,000 after purchasing an additional 77 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Inspire Medical Systems by 27.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after buying an additional 97 shares in the last quarter. New York State Teachers Retirement System raised its stake in Inspire Medical Systems by 0.5% in the second quarter. New York State Teachers Retirement System now owns 21,490 shares of the company’s stock valued at $2,789,000 after buying an additional 100 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in Inspire Medical Systems by 4.7% in the first quarter. PNC Financial Services Group Inc. now owns 2,419 shares of the company’s stock worth $385,000 after acquiring an additional 109 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Inspire Medical Systems by 1.3% during the second quarter. Amalgamated Bank now owns 9,567 shares of the company’s stock worth $1,242,000 after acquiring an additional 125 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on INSP shares. Oppenheimer raised shares of Inspire Medical Systems from a “market perform” rating to an “outperform” rating and set a $175.00 price objective for the company in a research report on Monday. Wells Fargo & Company upgraded shares of Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and cut their price target for the company from $101.00 to $90.00 in a research note on Tuesday, November 4th. Zacks Research upgraded shares of Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Jefferies Financial Group reissued a “hold” rating and set a $85.00 price objective (down from $160.00) on shares of Inspire Medical Systems in a report on Friday, October 24th. Finally, Piper Sandler raised their target price on Inspire Medical Systems from $135.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday. Ten research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $132.65.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the transaction, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

INSP stock opened at $130.52 on Friday. The company has a market capitalization of $3.79 billion, a P/E ratio of 88.79, a price-to-earnings-growth ratio of 15.83 and a beta of 0.70. Inspire Medical Systems, Inc. has a 12 month low of $70.77 and a 12 month high of $216.01. The firm’s fifty day simple moving average is $96.44 and its 200-day simple moving average is $104.75.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.53. The company had revenue of $224.50 million for the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

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.