Ameriprise Financial Inc. Sells 72,809 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Ameriprise Financial Inc. trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 41.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,756 shares of the company's stock after selling 72,809 shares during the period. Ameriprise Financial Inc. owned 0.35% of Inspire Medical Systems worth $19,420,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company lowered their price target on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley lowered their target price on Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and an average target price of $211.91.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Price Performance

Shares of INSP stock traded up $0.85 on Tuesday, hitting $150.63. 93,742 shares of the company's stock were exchanged, compared to its average volume of 528,134. The stock has a market cap of $4.44 billion, a P/E ratio of 87.13, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00. The company has a 50 day moving average of $155.20 and a 200 day moving average of $176.36.

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

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.