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

The Manufacturers Life Insurance Company trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 59.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its holdings in shares of Inspire Medical Systems by 885.7% in the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after buying an additional 124 shares in the last quarter. Huntington National Bank increased its holdings 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 valued at $32,000 after buying an additional 121 shares in the last quarter. Harbour Investments Inc. increased its holdings in shares of Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after buying an additional 99 shares in the last quarter. AlphaQuest LLC increased its holdings in shares of Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after buying an additional 291 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of Inspire Medical Systems by 61.9% in the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock valued at $61,000 after buying an additional 125 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on INSP. KeyCorp dropped their price target 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. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. JPMorgan Chase & Co. dropped their price target 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. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Finally, Piper Sandler cut their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.91.

Insider Activity

In related news, Director Shawn Mccormick sold 360 shares of the company's stock in a transaction 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 directly owns 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Stock Up 2.0%

Shares of Inspire Medical Systems stock traded up $2.97 on Friday, hitting $152.66. 390,694 shares of the company traded hands, compared to its average volume of 562,346. The company has a 50-day moving average price of $155.46 and a 200 day moving average price of $176.91. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $225.00. The company has a market cap of $4.50 billion, a PE ratio of 88.24, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly 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. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The business had revenue of $201.32 million for the quarter, compared to analysts' expectations of $194.89 million. During the same period in the previous year, the company posted ($0.34) EPS. Inspire Medical Systems's revenue was up 22.7% on a year-over-year basis. Equities research analysts anticipate 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.