Artisan Partners Limited Partnership Lowers Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Artisan Partners Limited Partnership cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 17.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 450,210 shares of the company’s stock after selling 95,731 shares during the period. Artisan Partners Limited Partnership owned about 1.50% of Inspire Medical Systems worth $83,460,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. First Horizon Advisors Inc. lifted its holdings in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after buying an additional 124 shares in the last quarter. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at $30,000. Harbour Investments Inc. boosted its holdings in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock valued at $37,000 after purchasing an additional 99 shares during the period. AlphaQuest LLC grew its stake in Inspire Medical Systems by 7,275.0% during the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after purchasing an additional 291 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Inspire Medical Systems by 178.9% during the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock worth $66,000 after purchasing an additional 229 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 1.5 %

Shares of NYSE INSP opened at $160.80 on Friday. The stock has a market cap of $4.79 billion, a PE ratio of 92.95, a price-to-earnings-growth ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The business has a 50-day moving average price of $179.56 and a 200 day moving average price of $190.57.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Monday, February 10th. The company reported $1.15 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%. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Inspire Medical Systems

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INSP shares. Wells Fargo & Company decreased their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a research note on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Robert W. Baird decreased their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research report on Tuesday, February 11th. Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, Piper Sandler decreased their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and a consensus target price 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.