Bank of America Corp DE Sells 36,032 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Bank of America Corp DE reduced its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 43.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. 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 about 0.15% of Inspire Medical Systems worth $8,601,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Inspire Medical Systems by 1.2% in 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. lifted its stake in Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock worth $147,021,000 after purchasing an additional 99,030 shares in the last quarter. Geode Capital Management LLC lifted its stake in Inspire Medical Systems by 0.6% in the 4th 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 in the last quarter. TimesSquare Capital Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Finally, Allspring Global Investments Holdings LLC lifted its stake in Inspire Medical Systems by 21.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock worth $61,709,000 after purchasing an additional 58,447 shares in the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INSP shares. JPMorgan Chase & Co. lowered their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Wells Fargo & Company lowered their price objective on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Robert W. Baird raised their price objective 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 lowered 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 report on Tuesday, May 6th. Finally, Truist Financial lowered their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research 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's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $211.91.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the firm'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 sale, the director now owns 24,046 shares of the company's stock, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $2.32 on Thursday, hitting $137.96. 678,397 shares of the company's stock traded hands, compared to its average volume of 560,287. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $225.00. The company's fifty day simple moving average is $151.99 and its 200 day simple moving average is $173.56. The stock has a market capitalization of $4.07 billion, a price-to-earnings ratio of 79.75, a P/E/G ratio of 2.86 and a beta of 1.39.

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

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.