Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 13.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 142,821 shares of the company’s stock after selling 22,350 shares during the period. Victory Capital Management Inc. owned approximately 0.48% of Inspire Medical Systems worth $29,054,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its stake 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 valued at $490,437,000 after buying an additional 1,397,510 shares during the period. Baillie Gifford & Co. lifted its stake in Inspire Medical Systems by 6,846.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after acquiring an additional 1,212,175 shares during the last quarter. Wellington Management Group LLP grew its holdings in Inspire Medical Systems by 72.8% during 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 in the last quarter. Westfield Capital Management Co. LP grew its holdings in Inspire Medical Systems by 29.9% during the 3rd quarter. Westfield Capital Management Co. LP now owns 732,400 shares of the company’s stock worth $145,337,000 after acquiring an additional 168,733 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Inspire Medical Systems by 31.8% in the 3rd quarter. Federated Hermes Inc. now owns 496,400 shares of the company’s stock valued at $98,506,000 after purchasing an additional 119,846 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Down 2.0 %

Shares of INSP stock opened at $245.87 on Wednesday. The stock’s 50-day moving average price is $215.94 and its 200 day moving average price is $190.56. The stock has a market capitalization of $7.45 billion, a PE ratio of -332.25 and a beta of 1.35. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00.

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 company had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. During the same period last year, the business posted $0.10 EPS. The company’s revenue was up 39.6% on a year-over-year basis. Analysts expect that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of the company’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the completion of the transaction, the insider now owns 3,029 shares in the company, valued at approximately $561,485.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of the business’s stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the transaction, the insider now owns 3,029 shares in the company, valued at approximately $561,485.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $193.53, for a total value of $107,215.62. Following the transaction, the director now directly owns 10,190 shares of the company’s stock, valued at $1,972,070.70. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock worth $15,664,278 in the last three months. Insiders own 4.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on INSP. Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They set a “buy” rating and a $245.00 target price for the company. Royal Bank of Canada began coverage on Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 target price on the stock. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. KeyCorp started coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price objective on the stock. Finally, Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

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.