Sei Investments Co. Increases Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Sei Investments Co. lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 27.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,474 shares of the company’s stock after acquiring an additional 35,486 shares during the quarter. Sei Investments Co. owned 0.55% of Inspire Medical Systems worth $30,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INSP. American Century Companies Inc. grew its position in shares of Inspire Medical Systems by 66.9% during the fourth quarter. American Century Companies Inc. now owns 11,214 shares of the company’s stock worth $2,079,000 after buying an additional 4,497 shares in the last quarter. Teacher Retirement System of Texas increased its position in shares of Inspire Medical Systems by 171.9% in the 4th quarter. Teacher Retirement System of Texas now owns 13,679 shares of the company’s stock valued at $2,536,000 after purchasing an additional 8,649 shares during the last quarter. Xponance Inc. raised its holdings in shares of Inspire Medical Systems by 2.2% in the 4th quarter. Xponance Inc. now owns 3,824 shares of the company’s stock valued at $709,000 after purchasing an additional 82 shares in the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Inspire Medical Systems by 16.8% during the fourth quarter. Thrivent Financial for Lutherans now owns 129,120 shares of the company’s stock worth $23,937,000 after purchasing an additional 18,540 shares in the last quarter. Finally, Harbour Investments Inc. increased its holdings in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after buying an additional 99 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on INSP shares. Robert W. Baird lowered their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a research note on Tuesday, February 11th. Wells Fargo & Company dropped their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial reduced their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research report on Tuesday, February 11th. Finally, Piper Sandler dropped their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $228.82.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the firm’s 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 directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction 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 directly owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,225 shares of company stock worth $4,806,530. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Down 3.3 %

INSP opened at $165.38 on Wednesday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The business has a 50 day moving average price of $180.09 and a two-hundred day moving average price of $190.97. The company has a market cap of $4.92 billion, a PE ratio of 95.60, a P/E/G ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping 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%. As a group, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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.