Sei Investments Co. Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Sei Investments Co. boosted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 27.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 163,474 shares of the company’s stock after purchasing an additional 35,486 shares during the quarter. Sei Investments Co.’s holdings in Inspire Medical Systems were worth $30,305,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mutual of America Capital Management LLC purchased a new stake in shares of Inspire Medical Systems in the 3rd quarter worth about $947,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Inspire Medical Systems by 4.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 281,165 shares of the company’s stock valued at $59,340,000 after purchasing an additional 11,939 shares in the last quarter. Cerity Partners LLC grew its position in shares of Inspire Medical Systems by 409.2% in the third quarter. Cerity Partners LLC now owns 13,576 shares of the company’s stock valued at $2,865,000 after purchasing an additional 10,910 shares during the last quarter. BNP Paribas Financial Markets increased its stake in shares of Inspire Medical Systems by 99.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock worth $994,000 after purchasing an additional 2,352 shares in the last quarter. Finally, Public Sector Pension Investment Board purchased a new position in shares of Inspire Medical Systems during the 3rd quarter worth approximately $13,359,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Piper Sandler decreased 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. Morgan Stanley cut their target price on shares of 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. Truist Financial decreased their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $165.38 on Wednesday. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 95.60, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The company has a 50 day moving average price of $180.09 and a 200 day moving average price of $190.97.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates 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, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the 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 completion of the sale, the chief technology officer now directly owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 25,584 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock worth $4,806,530 in the last three months. 4.10% of the stock is currently owned by company insiders.

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.