Bank of America Corp DE Has $8.60 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Bank of America Corp DE decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 43.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 46,396 shares of the company's stock after selling 36,032 shares during the quarter. Bank of America Corp DE owned approximately 0.15% of Inspire Medical Systems worth $8,601,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of INSP. First Horizon Advisors Inc. lifted its holdings in Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after buying an additional 124 shares during the period. Huntington National Bank lifted its stake in shares of Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after purchasing an additional 121 shares during the period. Harbour Investments Inc. lifted its stake in shares of Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares during the period. AlphaQuest LLC boosted its position in shares of Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after purchasing an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its stake in shares of Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock worth $61,000 after purchasing an additional 125 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INSP has been the topic of several analyst reports. Stifel Nicolaus cut their target price on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research note on Monday, April 21st. Robert W. Baird increased their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley reduced their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Truist Financial lowered their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a research note on Tuesday, February 11th. Finally, KeyCorp cut their target price on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Inspire Medical Systems Trading Down 0.1%

Shares of INSP stock traded down $0.13 during trading hours on Tuesday, hitting $143.08. 514,026 shares of the company were exchanged, compared to its average volume of 557,900. The company has a market capitalization of $4.22 billion, a PE ratio of 82.70, a PEG 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 business has a 50 day moving average of $153.53 and a two-hundred day moving average of $174.46.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating 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 company had revenue of $201.32 million during the quarter, compared to analysts' expectations of $194.89 million. During the same quarter last year, the company earned ($0.34) EPS. Inspire Medical Systems's revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the transaction, the director now directly owns 24,046 shares of the company's stock, valued at $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by company 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.