Inspire Medical Systems, Inc. (NYSE:INSP) CFO Sells $3,450,450.00 in Stock

Inspire Medical Systems, Inc. (NYSE:INSP) CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Inspire Medical Systems Stock Performance

INSP traded down $2.39 on Thursday, hitting $241.12. The company had a trading volume of 880,106 shares, compared to its average volume of 536,585. The stock has a fifty day moving average price of $202.06 and a 200-day moving average price of $183.36. Inspire Medical Systems, Inc. has a 12-month low of $123.27 and a 12-month high of $330.00. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of -329.05 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. During the same period in the previous year, the company earned $0.10 earnings per share. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. Analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP increased its holdings in shares of Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares in the last quarter. OPTIMAS CAPITAL Ltd purchased a new stake in Inspire Medical Systems during the 4th quarter worth approximately $3,861,000. Seven Eight Capital LP acquired a new position in Inspire Medical Systems during the 3rd quarter valued at approximately $1,558,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Inspire Medical Systems by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,222 shares of the company’s stock worth $50,845,000 after buying an additional 7,838 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Inspire Medical Systems by 29.7% in the third quarter. Canada Pension Plan Investment Board now owns 40,200 shares of the company’s stock worth $7,977,000 after buying an additional 9,200 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently issued reports on INSP. KeyCorp began coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 target price for the company. Stifel Nicolaus reaffirmed a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Morgan Stanley began coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price target on the stock. Jefferies Financial Group began coverage on Inspire Medical Systems in a report on Friday, January 19th. They set a “buy” rating and a $245.00 price objective for the company. Finally, Truist Financial reiterated a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of “Moderate Buy” and an average target price of $271.29.

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.