Truist Financial Corp Reduces Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Truist Financial Corp trimmed its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 10.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,426 shares of the company’s stock after selling 277 shares during the period. Truist Financial Corp’s holdings in Inspire Medical Systems were worth $450,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Wealth Enhancement Advisory Services LLC grew its position in shares of Inspire Medical Systems by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after buying an additional 79 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its position in shares of Inspire Medical Systems by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock valued at $2,688,000 after buying an additional 100 shares during the last quarter. Quarry LP grew its position in shares of Inspire Medical Systems by 30.9% in the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after buying an additional 106 shares during the last quarter. Finally, TriaGen Wealth Management LLC grew its position in Inspire Medical Systems by 5.4% during the 4th quarter. TriaGen Wealth Management LLC now owns 2,137 shares of the company’s stock worth $396,000 after purchasing an additional 110 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

INSP has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Truist Financial lowered their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus lowered their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, Robert W. Baird lowered their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems currently has an average rating of “Moderate Buy” and an average target price of $228.82.

Insiders Place Their Bets

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated 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 owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated 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 transaction, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,225 shares of company stock worth $4,806,530. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 1.6 %

Shares of NYSE INSP opened at $182.71 on Tuesday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a 50-day moving average price of $187.78 and a 200 day moving average price of $193.07. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 105.61, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating 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 research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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.