Algert Global LLC Trims Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Algert Global LLC cut its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 43,012 shares of the company's stock after selling 2,551 shares during the quarter. Algert Global LLC owned 0.14% of Inspire Medical Systems worth $7,974,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock worth $606,259,000 after purchasing an additional 38,219 shares in the last quarter. Invesco Ltd. increased its stake in shares of Inspire Medical Systems by 14.3% in the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after buying an additional 99,030 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after purchasing an additional 2,687 shares during the period. TimesSquare Capital Management LLC bought a new position in Inspire Medical Systems during the 4th quarter worth $80,419,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Inspire Medical Systems by 21.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock valued at $61,709,000 after acquiring an additional 58,447 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

INSP has been the subject of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research report on Tuesday. Robert W. Baird upped their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday. Stifel Nicolaus reduced their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Royal Bank of Canada lowered their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Trading Down 3.1 %

Shares of INSP stock traded down $5.01 on Wednesday, reaching $156.87. 735,186 shares of the company's stock were exchanged, compared to its average volume of 587,782. The stock has a market capitalization of $4.67 billion, a PE ratio of 90.68, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $225.00. The company's fifty day simple moving average is $158.89 and its 200 day simple moving average is $178.98.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The firm's quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.34) earnings per share. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shawn Mccormick sold 360 shares of the company's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the transaction, the director now directly owns 24,046 shares in the company, valued at approximately $3,847,360. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,527 shares of company stock worth $4,851,660. 4.10% of the stock is owned by corporate insiders.

About Inspire Medical Systems

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.