The Manufacturers Life Insurance Company Sells 9,302 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

The Manufacturers Life Insurance Company cut its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 59.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,364 shares of the company's stock after selling 9,302 shares during the period. The Manufacturers Life Insurance Company's holdings in Inspire Medical Systems were worth $1,180,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Tidal Investments LLC acquired a new position in shares of Inspire Medical Systems during the third quarter worth $320,000. Principal Financial Group Inc. increased its holdings in Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after purchasing an additional 137,483 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock valued at $1,461,000 after purchasing an additional 79 shares during the period. Pallas Capital Advisors LLC increased its holdings in Inspire Medical Systems by 6.1% in the fourth quarter. Pallas Capital Advisors LLC now owns 4,037 shares of the company's stock valued at $748,000 after purchasing an additional 233 shares during the period. Finally, Merit Financial Group LLC acquired a new stake in Inspire Medical Systems in the fourth quarter valued at $313,000. 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 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 transaction, the director now owns 24,046 shares of the company's stock, valued at $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

INSP has been the subject of a number of recent research reports. Robert W. Baird increased their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. KeyCorp decreased their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Piper Sandler decreased their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. decreased their price target on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus price target of $211.91.

Inspire Medical Systems Stock Down 1.8%

Inspire Medical Systems stock traded down $2.81 during trading hours on Monday, reaching $149.86. 405,567 shares of the company's stock were exchanged, compared to its average volume of 560,887. The firm has a market capitalization of $4.42 billion, a PE ratio of 86.62, a PEG ratio of 2.86 and a beta of 1.39. The firm's 50 day simple moving average is $155.20 and its 200 day simple moving average is $176.36. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The business's revenue was up 22.7% on a year-over-year basis. During the same quarter 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.

Inspire Medical Systems 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.