Inspire Medical Systems (NYSE:INSP) Stock Price Down 2.9% After Insider Selling

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) traded down 2.9% on Tuesday after an insider sold shares in the company. The stock traded as low as $198.88 and last traded at $199.21. 56,139 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 514,515 shares. The stock had previously closed at $205.16.

Specifically, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $197.81, for a total value of $109,586.74. Following the transaction, the director now directly owns 10,636 shares of the company’s stock, valued at $2,103,907.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of Inspire Medical Systems stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the completion of the sale, the insider now owns 3,029 shares of the company’s stock, valued at approximately $561,485.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.81, for a total value of $109,586.74. Following the sale, the director now directly owns 10,636 shares of the company’s stock, valued at approximately $2,103,907.16. The disclosure for this sale can be found here. Insiders sold 21,339 shares of company stock worth $4,003,381 in the last quarter. 4.10% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

INSP has been the topic of a number of research reports. Mizuho restated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a report on Wednesday. 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 price objective for the company. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, Morgan Stanley began coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.29.

Inspire Medical Systems Stock Performance

The stock has a market cap of $6.52 billion, a P/E ratio of -290.57 and a beta of 1.35. The firm’s 50-day moving average is $198.23 and its two-hundred day moving average is $181.19.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same quarter last year, the business earned $0.10 earnings per share. The firm’s quarterly revenue was up 39.6% compared to the same quarter last year. As a group, research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the business. Resurgent Financial Advisors LLC bought a new position in shares of Inspire Medical Systems in the 2nd quarter worth $25,000. Altshuler Shaham Ltd acquired a new position in shares of Inspire Medical Systems during the 4th quarter worth about $29,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Inspire Medical Systems in the 4th quarter valued at about $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of Inspire Medical Systems in the 1st quarter valued at approximately $37,000. Finally, Meeder Asset Management Inc. boosted its stake in Inspire Medical Systems by 7,850.0% during the 4th quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after acquiring an additional 157 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

About Inspire Medical Systems

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.