Teachers Retirement System of The State of Kentucky Sells 2,893 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Teachers Retirement System of The State of Kentucky cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,995 shares of the company's stock after selling 2,893 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.15% of Inspire Medical Systems worth $7,166,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. Vanguard Group Inc. lifted its position in 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 period. Dragoneer Investment Group LLC bought a new position in Inspire Medical Systems in the 4th quarter valued at $161,486,000. Invesco Ltd. grew its position in shares of Inspire Medical Systems by 14.3% during the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock worth $147,021,000 after buying an additional 99,030 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Inspire Medical Systems by 12.9% during the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock worth $105,173,000 after purchasing an additional 64,703 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock valued at $90,188,000 after buying an additional 2,687 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Robert W. Baird upped their target price 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. Royal Bank Of Canada dropped their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Stifel Nicolaus lowered their target price on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. reduced 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 note on Tuesday, May 6th. Finally, Wall Street Zen upgraded shares of Inspire Medical Systems from a "hold" rating to a "buy" rating in a research note on Saturday, July 12th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $210.27.

Inspire Medical Systems Stock Down 1.3%

Shares of NYSE:INSP opened at $125.13 on Tuesday. The company has a market capitalization of $3.69 billion, a P/E ratio of 57.66, a P/E/G ratio of 1.94 and a beta of 1.25. The stock's fifty day simple moving average is $136.24 and its 200-day simple moving average is $159.24. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted 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. The firm had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The firm's revenue was up 22.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.34) EPS. On average, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the transaction, the director owned 24,046 shares in the company, 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. 2.30% of the stock is currently owned by corporate 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.

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