Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,310 shares of the company’s stock after acquiring an additional 5,221 shares during the period. Principal Financial Group Inc. owned 0.49% of Inspire Medical Systems worth $27,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. State of New Jersey Common Pension Fund D boosted its stake in Inspire Medical Systems by 1.2% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 11,924 shares of the company’s stock worth $2,210,000 after buying an additional 145 shares during the last quarter. Congress Asset Management Co. boosted its stake in Inspire Medical Systems by 37.6% during the fourth quarter. Congress Asset Management Co. now owns 7,606 shares of the company’s stock worth $1,410,000 after buying an additional 2,077 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Inspire Medical Systems by 13.6% during the fourth quarter. New York State Teachers Retirement System now owns 9,194 shares of the company’s stock worth $1,704,000 after buying an additional 1,100 shares during the last quarter. Van ECK Associates Corp boosted its stake in Inspire Medical Systems by 52.7% during the fourth quarter. Van ECK Associates Corp now owns 1,113 shares of the company’s stock worth $206,000 after buying an additional 384 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in Inspire Medical Systems by 21.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company’s stock worth $61,709,000 after buying an additional 58,447 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 0.9 %

INSP stock opened at $176.87 on Friday. The company has a market capitalization of $5.25 billion, a PE ratio of 102.24, a P/E/G ratio of 2.86 and a beta of 1.32. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The business’s fifty day moving average price is $187.92 and its 200 day moving average price is $192.92.

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

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction dated 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 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 position. The sale 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 the company’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,225 shares of company stock worth $4,806,530. 4.10% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INSP. Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. KeyCorp reaffirmed an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Robert W. Baird decreased their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler decreased their price target 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 decreased their price target on 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. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $228.82.

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.