abrdn plc Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

abrdn plc acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,961 shares of the company’s stock, valued at approximately $9,350,000. abrdn plc owned 0.16% of Inspire Medical Systems as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Knights of Columbus Asset Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 103.1% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 6,536 shares of the company’s stock valued at $1,330,000 after buying an additional 3,318 shares during the period. Cornerstone Investment Partners LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $207,000. Calamos Advisors LLC acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $1,929,000. HealthInvest Partners AB acquired a new stake in shares of Inspire Medical Systems during the fourth quarter worth $657,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Inspire Medical Systems by 14.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,408 shares of the company’s stock worth $1,304,000 after purchasing an additional 785 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 2.8 %

Shares of NYSE:INSP opened at $237.45 on Friday. The business has a 50 day moving average price of $207.54 and a 200 day moving average price of $185.82. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00. The company has a market cap of $7.19 billion, a price-to-earnings ratio of -320.88 and a beta of 1.37.

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

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent analyst reports. Truist Financial reaffirmed a “buy” rating and set a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. KeyCorp started coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target on the stock. Mizuho reissued a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Jefferies Financial Group began coverage on Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 target price on the stock. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average price target of $272.20.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock worth $15,664,278 in the last 90 days. 4.10% of the stock is owned by company insiders.

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.