Miracle Mile Advisors LLC Buys Shares of 1,000 Inspire Medical Systems, Inc. (NYSE:INSP)

Miracle Mile Advisors LLC bought a new stake in Inspire Medical Systems, Inc. (NYSE:INSPFree Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,000 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSP. FMR LLC lifted its position in shares of Inspire Medical Systems by 130.1% in the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after acquiring an additional 1,397,510 shares during the period. Wellington Management Group LLP lifted its position in shares of Inspire Medical Systems by 72.8% in the 3rd quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock worth $193,870,000 after acquiring an additional 411,480 shares during the period. Norges Bank bought a new stake in shares of Inspire Medical Systems in the 4th quarter worth approximately $65,929,000. Envestnet Asset Management Inc. lifted its position in shares of Inspire Medical Systems by 1,117.0% in the 1st quarter. Envestnet Asset Management Inc. now owns 231,421 shares of the company’s stock worth $4,586,000 after acquiring an additional 212,406 shares during the period. Finally, 1832 Asset Management L.P. bought a new stake in shares of Inspire Medical Systems in the 1st quarter worth approximately $43,186,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $210.19 on Thursday. The stock has a fifty day moving average of $198.99 and a 200-day moving average of $180.96. The stock has a market capitalization of $6.37 billion, a P/E ratio of -284.04 and a beta of 1.37. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00.

Inspire Medical Systems (NYSE:INSPGet Free Report) last released its earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.53. The company had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. During the same period last year, the firm earned $0.10 EPS. Equities research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now directly owns 3,029 shares of the company’s stock, valued at $551,308.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,371 shares of company stock valued at $12,213,828. Company insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on INSP. Wells Fargo & Company downgraded Inspire Medical Systems from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $245.00 to $187.00 in a research report on Wednesday, December 13th. Stifel Nicolaus restated a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Mizuho restated a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Morgan Stanley began coverage on Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price for the company. Finally, KeyCorp initiated coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 target price for the company. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $271.29.

View Our Latest Research Report on INSP

Inspire Medical Systems Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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