Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. trimmed its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 453,268 shares of the company’s stock after selling 43,132 shares during the quarter. Federated Hermes Inc.’s holdings in Inspire Medical Systems were worth $92,208,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Inspire Medical Systems by 4.3% in the third quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock valued at $507,934,000 after buying an additional 117,888 shares during the last quarter. FMR LLC raised its holdings in shares of Inspire Medical Systems by 130.1% in the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock valued at $490,437,000 after buying an additional 1,397,510 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Inspire Medical Systems by 6.9% in the first quarter. BlackRock Inc. now owns 2,282,100 shares of the company’s stock valued at $534,171,000 after buying an additional 146,344 shares during the last quarter. Macquarie Group Ltd. raised its holdings in shares of Inspire Medical Systems by 0.9% in the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock valued at $281,402,000 after buying an additional 14,017 shares during the last quarter. Finally, Baillie Gifford & Co. raised its holdings in shares of Inspire Medical Systems by 6,846.9% in the fourth quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock valued at $250,194,000 after buying an additional 1,212,175 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 3,060 shares of the stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares in the company, valued at $551,308.29. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock worth $15,664,278 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. KeyCorp initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target for the company. Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They set a “buy” rating and a $245.00 price target for the company. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target for the company. Finally, Truist Financial reissued a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $272.20.

Inspire Medical Systems Trading Down 1.0 %

Shares of Inspire Medical Systems stock opened at $241.12 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $123.27 and a 12-month high of $330.00. The stock has a market cap of $7.31 billion, a PE ratio of -325.84 and a beta of 1.37. The company has a 50-day moving average of $202.84 and a two-hundred day moving average of $183.76.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The company had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same period last year, the company posted $0.10 earnings per share. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal 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.