Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas increased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 171.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,679 shares of the company’s stock after buying an additional 8,649 shares during the quarter. Teacher Retirement System of Texas’ holdings in Inspire Medical Systems were worth $2,536,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in INSP. Smartleaf Asset Management LLC raised its position 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 buying an additional 229 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Inspire Medical Systems during the fourth quarter worth $313,000. Public Employees Retirement System of Ohio raised its holdings in shares of Inspire Medical Systems by 9.4% during the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock worth $7,674,000 after purchasing an additional 3,125 shares during the last quarter. Jennison Associates LLC acquired a new position in Inspire Medical Systems during the fourth quarter valued at $8,821,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Inspire Medical Systems by 248.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock valued at $891,000 after purchasing an additional 3,427 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Down 0.9 %

INSP stock opened at $163.50 on Thursday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The firm has a 50-day simple moving average of $179.84 and a 200-day simple moving average of $190.78. The stock has a market capitalization of $4.87 billion, a P/E ratio of 94.51, a P/E/G ratio of 2.86 and a beta of 1.48.

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 return on equity of 8.19% and a net margin of 6.67%. On average, analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSP. Piper Sandler decreased their price objective 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. Robert W. Baird lowered their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Morgan Stanley lowered their price target on shares of 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, Royal Bank of Canada restated an “outperform” rating and set a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and a consensus target price of $228.82.

Insiders Place Their Bets

In other news, insider Randy Ban sold 25,584 shares of the business’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 transaction, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were 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 of the company’s stock, valued at approximately $1,777,187.76. This represents a 5.30 % 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 valued at $4,806,530 in the last 90 days. 4.10% of the stock is owned by insiders.

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.