HighTower Advisors LLC Has $399,000 Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

HighTower Advisors LLC lifted its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 46.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,150 shares of the company’s stock after purchasing an additional 686 shares during the period. HighTower Advisors LLC’s holdings in Inspire Medical Systems were worth $399,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its stake in shares of Inspire Medical Systems by 99.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock valued at $994,000 after buying an additional 2,352 shares during the period. Captrust Financial Advisors acquired a new stake in Inspire Medical Systems in the third quarter worth about $628,000. Verition Fund Management LLC bought a new stake in Inspire Medical Systems during the 3rd quarter worth about $757,000. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems in the 3rd quarter valued at about $30,000. Finally, Cinctive Capital Management LP acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth approximately $234,000. Institutional investors own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

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

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $159.60 on Tuesday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market capitalization of $4.75 billion, a P/E ratio of 92.26, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. The business has a 50-day moving average of $178.78 and a two-hundred day moving average of $189.61.

Inspire Medical Systems (NYSE:INSP) last announced its 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 net margin of 6.67% and a return on equity of 8.19%. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INSP shares. Truist Financial cut their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Morgan Stanley reduced their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird dropped their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Finally, Piper Sandler decreased their target price 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 investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.