Pallas Capital Advisors LLC Decreases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Pallas Capital Advisors LLC cut its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 51.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,979 shares of the company's stock after selling 2,058 shares during the period. Pallas Capital Advisors LLC's holdings in Inspire Medical Systems were worth $315,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in INSP. First Horizon Advisors Inc. increased its holdings in shares of 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 buying an additional 124 shares during the last quarter. Huntington National Bank increased its holdings 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 worth $32,000 after buying an additional 121 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Inspire Medical Systems by 356.5% in the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares during the last quarter. True Wealth Design LLC increased its holdings in shares of Inspire Medical Systems by 39.0% in the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after buying an additional 55 shares during the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after purchasing an additional 99 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Insider Transactions at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the company's stock in a transaction that occurred 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 completion of the sale, the director now owns 24,046 shares of the company's stock, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on INSP shares. JPMorgan Chase & Co. dropped their price target on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Stifel Nicolaus dropped their price target on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, April 21st. Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. KeyCorp dropped 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 note on Monday, April 21st. Finally, Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $211.91.

Inspire Medical Systems Price Performance

INSP stock traded down $1.75 during mid-day trading on Friday, reaching $126.86. The company had a trading volume of 983,733 shares, compared to its average volume of 567,082. The company has a market capitalization of $3.74 billion, a PE ratio of 73.33, a price-to-earnings-growth ratio of 2.86 and a beta of 1.28. The firm has a 50 day moving average of $147.49 and a 200 day moving average of $169.69. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The business 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 6.67% and a return on equity of 8.19%. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.34) EPS. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS 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.