Inspire Medical Systems, Inc. (NYSE:INSP) Stock Holdings Reduced by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 34.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 380,260 shares of the company's stock after selling 200,611 shares during the period. Bank of New York Mellon Corp owned approximately 1.28% of Inspire Medical Systems worth $60,568,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSP. Huntington National Bank lifted its stake in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after acquiring an additional 121 shares during the period. Parallel Advisors LLC grew its position in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares in the last quarter. True Wealth Design LLC grew its position in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 55 shares during the last quarter. Harbour Investments Inc. boosted its position in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after buying an additional 99 shares during the period. Finally, AlphaQuest LLC lifted its holdings in Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after buying an additional 291 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of the business's 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 sale, the director owned 24,046 shares of the company's stock, valued at $3,847,360. This represents a 1.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently commented on INSP. Robert W. Baird upped their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. KeyCorp lowered their price target on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Royal Bank Of Canada decreased their price target on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wall Street Zen raised Inspire Medical Systems from a "hold" rating to a "buy" rating in a report on Saturday. Finally, JPMorgan Chase & Co. decreased their price objective on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and nine 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 an average price target of $211.91.

Inspire Medical Systems Trading Up 0.4%

Shares of NYSE INSP traded up $0.47 during mid-day trading on Monday, reaching $130.73. The company had a trading volume of 240,565 shares, compared to its average volume of 555,389. The firm has a 50 day simple moving average of $139.08 and a two-hundred day simple moving average of $161.29. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00. The stock has a market cap of $3.86 billion, a P/E ratio of 60.60, a PEG ratio of 1.99 and a beta of 1.25.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly 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 the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. On average, equities analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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.