Randy Ban Sells 4,861 Shares of Inspire Medical Systems, Inc. (NYSE:INSP) Stock

Inspire Medical Systems, Inc. (NYSE:INSP) insider Randy Ban sold 4,861 shares of the stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $187.34 on Thursday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The firm has a 50-day simple moving average of $153.58 and a two-hundred day simple moving average of $181.22. The company has a market cap of $5.57 billion, a P/E ratio of -340.62 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. Inspire Medical Systems’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.41) EPS. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 0.15 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. SouthState Corp bought a new position in Inspire Medical Systems in the 2nd quarter worth about $27,000. Principal Securities Inc. bought a new position in Inspire Medical Systems in the fourth quarter worth approximately $54,000. Quarry LP increased its holdings in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Daiwa Securities Group Inc. purchased a new position in Inspire Medical Systems during the 2nd quarter worth $53,000. Finally, RiverPark Advisors LLC raised its position in Inspire Medical Systems by 360.1% during the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock valued at $166,000 after purchasing an additional 605 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Piper Sandler boosted their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 8th. Robert W. Baird lowered their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Bank of America decreased their price target on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a research note on Monday, June 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Finally, Truist Financial reduced their target price on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.79.

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.