Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC trimmed its holdings in Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) by 1.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,629 shares of the company’s stock after selling 2,461 shares during the quarter. Inspire Medical Systems comprises 1.3% of Granite Investment Partners LLC’s portfolio, making the stock its 11th largest holding. Granite Investment Partners LLC owned about 0.44% of Inspire Medical Systems worth $32,147,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE lifted its stake in shares of Inspire Medical Systems by 11.3% in the 1st quarter. US Bancorp DE now owns 2,284 shares of the company’s stock worth $586,000 after acquiring an additional 231 shares during the period. HighTower Advisors LLC acquired a new stake in Inspire Medical Systems in the first quarter worth approximately $452,000. Private Advisor Group LLC bought a new position in Inspire Medical Systems during the 1st quarter valued at $203,000. PNC Financial Services Group Inc. increased its position in shares of Inspire Medical Systems by 668.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 1,422 shares of the company’s stock valued at $364,000 after purchasing an additional 1,237 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Inspire Medical Systems by 4.0% in the 1st quarter. Bank of Montreal Can now owns 14,694 shares of the company’s stock worth $3,838,000 after buying an additional 563 shares in the last quarter. Institutional investors own 97.04% of the company’s stock.

Inspire Medical Systems Stock Up 0.1 %

Shares of NYSE:INSP traded up $0.25 during mid-day trading on Friday, hitting $296.78. The stock had a trading volume of 97,557 shares, compared to its average volume of 340,087. The company’s 50 day moving average is $264.26 and its 200-day moving average is $252.56. Inspire Medical Systems, Inc. has a 12-month low of $157.04 and a 12-month high of $314.36.

Inspire Medical Systems (NYSE:INSP – Get Rating) last released its earnings results on Tuesday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.17. Inspire Medical Systems had a negative return on equity of 10.27% and a negative net margin of 9.35%. The company had revenue of $127.90 million during the quarter, compared to analyst estimates of $120.06 million. During the same quarter in the prior year, the company earned ($0.61) earnings per share. The company’s revenue for the quarter was up 84.3% on a year-over-year basis. As a group, research analysts expect that Inspire Medical Systems, Inc. will post -1.18 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on INSP shares. Stifel Nicolaus raised their target price on Inspire Medical Systems from $290.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, April 11th. 92 Resources restated a “maintains” rating on shares of Inspire Medical Systems in a research report on Wednesday, May 3rd. KeyCorp boosted their target price on shares of Inspire Medical Systems from $303.00 to $321.00 in a report on Wednesday, May 3rd. Piper Sandler raised their target price on shares of Inspire Medical Systems from $305.00 to $315.00 in a report on Wednesday, May 3rd. Finally, Mizuho initiated coverage on shares of Inspire Medical Systems in a research report on Thursday, April 13th. They issued a “buy” rating and a $300.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $312.56.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 529 shares of the company’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $293.91, for a total value of $155,478.39. Following the transaction, the director now owns 3,671 shares in the company, valued at approximately $1,078,943.61. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, VP Steven Jandrich sold 1,727 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $280.12, for a total value of $483,767.24. Following the completion of the sale, the vice president now owns 4,371 shares of the company’s stock, valued at approximately $1,224,404.52. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jerry C. Griffin sold 529 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $293.91, for a total transaction of $155,478.39. Following the transaction, the director now directly owns 3,671 shares in the company, valued at approximately $1,078,943.61. The disclosure for this sale can be found here. Insiders have sold a total of 15,310 shares of company stock valued at $4,280,627 in the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Company Profile

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.