Corebridge Financial Inc. Has $296,000 Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Corebridge Financial Inc. lessened its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,596 shares of the company’s stock after selling 138 shares during the quarter. Corebridge Financial Inc.’s holdings in Inspire Medical Systems were worth $296,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Captrust Financial Advisors acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at approximately $628,000. State Street Corp increased its stake in shares of Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock valued at $221,557,000 after buying an additional 459,990 shares during the period. MML Investors Services LLC raised its position in shares of Inspire Medical Systems by 8.6% during the third quarter. MML Investors Services LLC now owns 7,874 shares of the company’s stock worth $1,662,000 after acquiring an additional 625 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in shares of Inspire Medical Systems by 9.4% during the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock valued at $7,674,000 after acquiring an additional 3,125 shares during the period. Finally, M&T Bank Corp boosted its holdings in Inspire Medical Systems by 53.1% in the third quarter. M&T Bank Corp now owns 3,228 shares of the company’s stock valued at $681,000 after acquiring an additional 1,120 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

NYSE INSP opened at $144.49 on Friday. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The firm has a market cap of $4.30 billion, a P/E ratio of 83.52, a P/E/G ratio of 2.86 and a beta of 1.39. The stock’s 50-day moving average is $170.67 and its 200-day moving average is $185.70.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Piper Sandler dropped their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. KeyCorp restated an “overweight” rating and issued a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Truist Financial cut their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company decreased their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price of $226.70.

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.