Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by AIA Group Ltd

AIA Group Ltd decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,766 shares of the company’s stock after selling 471 shares during the quarter. AIA Group Ltd’s holdings in Inspire Medical Systems were worth $2,181,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. State Street Corp grew its position in Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after purchasing an additional 459,990 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems during the fourth quarter worth about $80,419,000. Point72 Asset Management L.P. raised its position in Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock valued at $67,402,000 after acquiring an additional 289,075 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Inspire Medical Systems in the fourth quarter valued at approximately $47,604,000. Finally, Riverbridge Partners LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $26,342,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

NYSE INSP opened at $159.60 on Tuesday. The stock’s 50 day simple moving average is $178.78 and its 200-day simple moving average is $189.61. The company has a market cap of $4.75 billion, a PE ratio of 92.26, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,225 shares of company stock valued at $4,806,530. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

INSP has been the subject of several recent research reports. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Stifel Nicolaus cut their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. KeyCorp reiterated an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Piper Sandler cut their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $226.70.

Inspire Medical Systems 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.