Rhumbline Advisers Cuts Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Rhumbline Advisers lowered its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 71,535 shares of the company's stock after selling 2,115 shares during the period. Rhumbline Advisers owned about 0.24% of Inspire Medical Systems worth $11,394,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of INSP. Vanguard Group Inc. grew its stake in shares of Inspire Medical Systems by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after buying an additional 38,219 shares during the last quarter. Dragoneer Investment Group LLC bought a new stake in Inspire Medical Systems during the 4th quarter valued at about $161,486,000. Invesco Ltd. grew 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 acquiring an additional 99,030 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Inspire Medical Systems by 12.9% during the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after acquiring an additional 64,703 shares during the period. Finally, Geode Capital Management LLC raised its position 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. Hedge funds and other institutional investors own 94.91% of the company's stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the transaction, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INSP shares. Wells Fargo & Company decreased their price objective on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Royal Bank of Canada cut their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Stifel Nicolaus cut their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. Morgan Stanley reduced their price target 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, KeyCorp decreased their price objective 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.91.

Inspire Medical Systems Trading Down 1.4%

Shares of NYSE INSP traded down $1.76 during midday trading on Friday, reaching $126.85. 32,130 shares of the company were exchanged, compared to its average volume of 561,752. The stock has a market cap of $3.74 billion, a P/E ratio of 73.63, a PEG ratio of 2.86 and a beta of 1.28. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $225.00. The stock has a fifty day simple moving average of $147.79 and a 200 day simple moving average of $170.29.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results 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 for the quarter, compared to the consensus estimate of $194.89 million. During the same period last year, the business posted ($0.34) EPS. The company's revenue was up 22.7% on a year-over-year basis. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current 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.