John Rondoni Sells 109 Shares of Inspire Medical Systems (NYSE:INSP) Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider John Rondoni sold 109 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $100.00, for a total value of $10,900.00. Following the completion of the sale, the insider directly owned 13,797 shares in the company, valued at approximately $1,379,700. This represents a 0.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Inspire Medical Systems Price Performance

INSP stock traded down $1.39 on Monday, reaching $96.99. 997,235 shares of the company traded hands, compared to its average volume of 1,173,491. The firm has a fifty day simple moving average of $104.75 and a 200-day simple moving average of $99.38. The company has a market cap of $2.82 billion, a P/E ratio of 65.98, a price-to-earnings-growth ratio of 9.97 and a beta of 0.72. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $203.12.

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

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Royal Bank of Canada grew its holdings in shares of Inspire Medical Systems by 16.0% in the first quarter. Royal Bank of Canada now owns 32,769 shares of the company’s stock worth $5,220,000 after acquiring an additional 4,528 shares during the period. Integrated Wealth Concepts LLC purchased a new position in Inspire Medical Systems in the first quarter worth about $524,000. Goldman Sachs Group Inc. grew its stake in shares of Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock valued at $8,190,000 after purchasing an additional 18,857 shares during the period. Voya Investment Management LLC increased its position in shares of Inspire Medical Systems by 5.3% during the 1st quarter. Voya Investment Management LLC now owns 164,936 shares of the company’s stock valued at $26,271,000 after purchasing an additional 8,361 shares during the last quarter. Finally, Fox Hill Wealth Management lifted its stake in shares of Inspire Medical Systems by 23.8% in the 2nd quarter. Fox Hill Wealth Management now owns 5,845 shares of the company’s stock worth $758,000 after purchasing an additional 1,122 shares during the period. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on INSP. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Evercore ISI decreased their price objective on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday, October 7th. Wells Fargo & Company upgraded Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and cut their target price for the company from $101.00 to $90.00 in a research note on Tuesday, November 4th. Truist Financial reduced their target price on Inspire Medical Systems from $165.00 to $120.00 and set a “buy” rating for the company in a report on Thursday. Finally, Oppenheimer restated an “outperform” rating on shares of Inspire Medical Systems in a research note on Friday, December 19th. Eleven research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $136.35.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.