Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Artisan Partners Limited Partnership

Artisan Partners Limited Partnership lessened its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 17.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 450,210 shares of the company’s stock after selling 95,731 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Inspire Medical Systems were worth $83,460,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. lifted its position in shares of Inspire Medical Systems by 4.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 281,165 shares of the company’s stock valued at $59,340,000 after acquiring an additional 11,939 shares during the period. Cerity Partners LLC raised its holdings in Inspire Medical Systems by 409.2% during the third quarter. Cerity Partners LLC now owns 13,576 shares of the company’s stock worth $2,865,000 after purchasing an additional 10,910 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Inspire Medical Systems by 99.7% during the third quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after purchasing an additional 2,352 shares in the last quarter. Public Sector Pension Investment Board acquired a new stake in Inspire Medical Systems in the third quarter valued at $13,359,000. Finally, Captrust Financial Advisors acquired a new position in shares of Inspire Medical Systems during the 3rd quarter worth $628,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on INSP shares. Morgan Stanley dropped their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Robert W. Baird cut their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock 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 for the company in a report on Tuesday, February 11th. Finally, Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.70.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction that occurred on Thursday, February 13th. The shares were 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 $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction 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 in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 26,225 shares of company stock valued at $4,806,530. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE INSP opened at $160.80 on Friday. The company has a market cap of $4.79 billion, a P/E ratio of 92.95, a P/E/G ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The company has a 50-day moving average of $179.56 and a 200-day moving average of $190.57.

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

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.