Washington Trust Bank Purchases Shares of 1,200 Inspire Medical Systems, Inc. (NYSE:INSP)

Washington Trust Bank purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,200 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Allspring Global Investments Holdings LLC boosted its holdings in Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after buying an additional 192,238 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after buying an additional 156,893 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after acquiring an additional 137,483 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 subject of several research analyst reports. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday. KeyCorp dropped their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Morgan Stanley lowered their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Finally, Truist Financial restated a “buy” rating and issued a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,692 shares of company stock valued at $1,099,207 in the last quarter. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Trading Up 6.3 %

Shares of INSP traded up $12.63 during mid-day trading on Thursday, reaching $211.63. 1,043,542 shares of the stock traded hands, compared to its average volume of 397,234. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 197.79 and a beta of 1.36. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a fifty day moving average price of $201.94 and a 200 day moving average price of $179.94.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.51% and a net margin of 4.37%. Inspire Medical Systems’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) earnings per share. On average, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

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.