Insider Selling: Inspire Medical Systems, Inc. (NYSE:INSP) CEO Sells 40,000 Shares of Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Inspire Medical Systems Stock Up 2.5 %

Shares of NYSE:INSP traded up $5.13 during trading on Wednesday, reaching $210.19. 627,047 shares of the company traded hands, compared to its average volume of 521,010. The firm has a fifty day simple moving average of $198.99 and a 200 day simple moving average of $180.96. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00. The firm has a market cap of $6.37 billion, a P/E ratio of -284.04 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $186.75 million. During the same quarter in the previous year, the company posted $0.10 earnings per share. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Inspire Medical Systems by 4.3% during the 3rd quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock valued at $507,934,000 after buying an additional 117,888 shares during the last quarter. FMR LLC lifted its holdings in shares of Inspire Medical Systems by 130.1% during 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 last quarter. BlackRock Inc. raised its stake in shares of Inspire Medical Systems by 6.9% in the 1st quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock valued at $534,171,000 after acquiring an additional 146,344 shares in the last quarter. Macquarie Group Ltd. raised its stake in shares of Inspire Medical Systems by 0.9% in the 2nd quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock valued at $281,402,000 after acquiring an additional 14,017 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Inspire Medical Systems by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on INSP shares. KeyCorp started coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 target price on the stock. Mizuho reaffirmed a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Wells Fargo & Company lowered Inspire Medical Systems from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $245.00 to $187.00 in a research report on Wednesday, December 13th. Truist Financial restated a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, Jefferies Financial Group began coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $271.29.

Inspire Medical Systems Company 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.