Avior Wealth Management LLC Reduces Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Avior Wealth Management LLC trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 24.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,025 shares of the company’s stock after selling 652 shares during the period. Avior Wealth Management LLC’s holdings in Inspire Medical Systems were worth $412,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of INSP. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $27,000. Altshuler Shaham Ltd purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth approximately $29,000. NBC Securities Inc. purchased a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $34,000. Parkside Financial Bank & Trust purchased a new position in shares of Inspire Medical Systems during the 1st quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Inspire Medical Systems by 7,850.0% during the 4th quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after purchasing an additional 157 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the transaction, the director now owns 9,744 shares in the company, valued at approximately $1,929,799.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now owns 28,271 shares in the company, valued at approximately $6,503,178.13. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,371 shares of company stock worth $15,664,278. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $241.12 on Friday. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00. The firm has a fifty day moving average of $202.84 and a 200-day moving average of $183.76.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. During the same period in the previous year, the company earned $0.10 EPS. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INSP has been the subject of several recent analyst reports. Mizuho reaffirmed a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 target price for the company. Truist Financial reaffirmed a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Finally, KeyCorp initiated coverage on shares of Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.29.

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.