Legal & General Group Plc Cuts Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Legal & General Group Plc trimmed its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 0.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,478 shares of the company’s stock after selling 169 shares during the period. Legal & General Group Plc’s holdings in Inspire Medical Systems were worth $17,700,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Mutual of America Capital Management LLC lifted its stake in Inspire Medical Systems by 1.2% in the 4th quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company’s stock valued at $842,000 after buying an additional 55 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after acquiring an additional 79 shares in the last quarter. Xponance Inc. boosted its stake in shares of Inspire Medical Systems by 2.2% in the fourth quarter. Xponance Inc. now owns 3,824 shares of the company’s stock worth $709,000 after acquiring an additional 82 shares during the last quarter. Harbour Investments Inc. increased its position in shares of Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

INSP has been the subject of a number of research reports. Wells Fargo & Company dropped 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. Morgan Stanley decreased their target price on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Piper Sandler lowered their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Finally, Truist Financial cut their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a research note on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $226.70.

Insiders Place Their Bets

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 shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is owned by insiders.

Inspire Medical Systems Trading Up 1.4 %

NYSE INSP opened at $149.61 on Tuesday. The stock has a market cap of $4.45 billion, a PE ratio of 86.48, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a fifty day simple moving average of $168.82 and a 200-day simple moving average of $184.75.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems Company 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.