Inspire Medical Systems, Inc. (NYSE:INSP) Director Sells $2,040,828.14 in Stock

Inspire Medical Systems, Inc. (NYSE:INSPGet Rating) Director Jerry C. Griffin sold 9,217 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $221.42, for a total transaction of $2,040,828.14. Following the completion of the sale, the director now owns 2,060 shares of the company’s stock, valued at approximately $456,125.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $210.67 on Tuesday. Inspire Medical Systems, Inc. has a 52-week low of $142.74 and a 52-week high of $284.33. The company has a 50-day simple moving average of $187.09 and a 200 day simple moving average of $190.70. The company has a market capitalization of $6.09 billion, a PE ratio of -115.12 and a beta of 1.52.

Inspire Medical Systems (NYSE:INSPGet Rating) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.15. Inspire Medical Systems had a negative net margin of 14.47% and a negative return on equity of 17.52%. The business had revenue of $109.19 million during the quarter, compared to the consensus estimate of $95.62 million. As a group, analysts forecast that Inspire Medical Systems, Inc. will post -2.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Piper Sandler lowered their target price on shares of Inspire Medical Systems from $310.00 to $285.00 and set an “overweight” rating for the company in a report on Wednesday, August 3rd. Truist Financial lowered their target price on shares of Inspire Medical Systems from $280.00 to $240.00 and set a “buy” rating for the company in a report on Monday, October 17th. Finally, Lake Street Capital lowered their target price on shares of Inspire Medical Systems from $320.00 to $250.00 in a report on Wednesday, November 2nd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $263.60.

Institutional Trading of Inspire Medical Systems

Large investors have recently added to or reduced their stakes in the stock. Viking Global Investors LP purchased a new position in shares of Inspire Medical Systems in the first quarter worth about $79,800,000. Farallon Capital Management LLC purchased a new position in shares of Inspire Medical Systems in the first quarter worth about $72,772,000. Point72 Asset Management L.P. increased its stake in shares of Inspire Medical Systems by 66.3% in the third quarter. Point72 Asset Management L.P. now owns 488,672 shares of the company’s stock worth $86,676,000 after purchasing an additional 194,895 shares in the last quarter. Principal Financial Group Inc. increased its stake in shares of Inspire Medical Systems by 2,203.1% in the first quarter. Principal Financial Group Inc. now owns 180,400 shares of the company’s stock worth $46,307,000 after purchasing an additional 172,567 shares in the last quarter. Finally, FMR LLC increased its stake in shares of Inspire Medical Systems by 7.9% in the second quarter. FMR LLC now owns 2,255,907 shares of the company’s stock worth $412,087,000 after purchasing an additional 164,645 shares in the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Inspire Medical Systems Company Profile

(Get Rating)

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.

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