Envestnet Asset Management Inc. Raises Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Envestnet Asset Management Inc. lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 7.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,667 shares of the company's stock after buying an additional 1,752 shares during the period. Envestnet Asset Management Inc. owned approximately 0.09% of Inspire Medical Systems worth $4,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. First Horizon Advisors Inc. raised its holdings in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. Huntington National Bank raised its holdings in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after acquiring an additional 121 shares during the period. Harbour Investments Inc. raised its holdings in Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after acquiring an additional 99 shares during the period. AlphaQuest LLC raised its holdings in Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after acquiring an additional 291 shares during the period. Finally, Smartleaf Asset Management LLC raised its holdings in Inspire Medical Systems by 178.9% during the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after acquiring an additional 229 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the stock in a transaction 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 owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $1.27 during mid-day trading on Monday, hitting $157.79. The company's stock had a trading volume of 233,713 shares, compared to its average volume of 582,430. The company has a 50 day moving average of $162.45 and a 200-day moving average of $180.71. The stock has a market cap of $4.70 billion, a PE ratio of 91.21, a P/E/G ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 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%. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

INSP has been the topic of a number of recent analyst reports. KeyCorp decreased their price target on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Royal Bank of Canada decreased their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley decreased their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company decreased their price target on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Finally, Stifel Nicolaus decreased their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $218.90.

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.