LPL Financial LLC Sells 136 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

LPL Financial LLC reduced its holdings in Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) by 2.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,064 shares of the company’s stock after selling 136 shares during the period. LPL Financial LLC’s holdings in Inspire Medical Systems were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently added to or reduced their stakes in INSP. Assenagon Asset Management S.A. purchased a new stake in shares of Inspire Medical Systems in the fourth quarter worth approximately $85,546,000. Point72 Asset Management L.P. grew its stake in 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 valued at $86,676,000 after purchasing an additional 194,895 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Inspire Medical Systems by 46.4% during the third quarter. Lord Abbett & CO. LLC now owns 511,447 shares of the company’s stock valued at $90,715,000 after acquiring an additional 162,076 shares during the last quarter. 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 purchasing an additional 117,888 shares during the last quarter. Finally, BlackRock Inc. boosted its holdings in Inspire Medical Systems by 5.5% in the third quarter. BlackRock Inc. now owns 2,005,864 shares of the company’s stock worth $355,780,000 after acquiring an additional 104,573 shares in the last quarter. 97.04% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Jerry C. Griffin sold 529 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $293.91, for a total transaction of $155,478.39. Following the transaction, the director now owns 3,671 shares in the company, valued at approximately $1,078,943.61. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, VP Steven Jandrich sold 1,727 shares of the company’s stock in a transaction on Monday, May 8th. The stock was sold at an average price of $280.12, for a total transaction of $483,767.24. Following the transaction, the vice president now owns 4,371 shares of the company’s stock, valued at $1,224,404.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jerry C. Griffin sold 529 shares of the stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $293.91, for a total transaction of $155,478.39. Following the completion of the transaction, the director now owns 3,671 shares of the company’s stock, valued at approximately $1,078,943.61. The disclosure for this sale can be found here. In the last three months, insiders sold 15,310 shares of company stock valued at $4,280,627. Insiders own 4.50% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $296.53 on Friday. The firm has a market capitalization of $8.60 billion, a PE ratio of -190.08 and a beta of 1.44. The business’s fifty day moving average price is $264.26 and its 200 day moving average price is $252.56. Inspire Medical Systems, Inc. has a 12 month low of $157.04 and a 12 month high of $314.36.

Inspire Medical Systems (NYSE:INSP – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.53) EPS for the quarter, beating the consensus estimate of ($0.70) by $0.17. The company had revenue of $127.90 million for the quarter, compared to analyst estimates of $120.06 million. Inspire Medical Systems had a negative net margin of 9.35% and a negative return on equity of 10.27%. The firm’s revenue was up 84.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.61) earnings per share. As a group, equities analysts anticipate that Inspire Medical Systems, Inc. will post -1.18 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INSP shares. JPMorgan Chase & Co. increased their price target on shares of Inspire Medical Systems from $271.00 to $300.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. KeyCorp upped their price objective on Inspire Medical Systems from $303.00 to $321.00 in a research report on Wednesday, May 3rd. Mizuho assumed coverage on shares of Inspire Medical Systems in a research note on Thursday, April 13th. They issued a “buy” rating and a $300.00 target price for the company. Piper Sandler raised their price target on shares of Inspire Medical Systems from $305.00 to $315.00 in a research report on Wednesday, May 3rd. Finally, Truist Financial upped their price objective on shares of Inspire Medical Systems from $335.00 to $360.00 in a research report on Thursday, May 18th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Buy” and a consensus price target of $312.56.

About Inspire Medical Systems

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.