Nippon Life Global Investors Americas Inc. Cuts Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Nippon Life Global Investors Americas Inc. trimmed its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,380 shares of the company's stock after selling 5,210 shares during the quarter. Nippon Life Global Investors Americas Inc. owned approximately 0.08% of Inspire Medical Systems worth $4,334,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in INSP. Tidal Investments LLC bought a new position in shares of Inspire Medical Systems in the third quarter valued at $320,000. Synovus Financial Corp lifted its holdings in Inspire Medical Systems by 7.5% during the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock valued at $739,000 after purchasing an additional 244 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new stake in Inspire Medical Systems during the 3rd quarter valued at $1,208,000. Principal Financial Group Inc. lifted its holdings in Inspire Medical Systems by 3,812.6% during the 3rd 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 last quarter. Finally, Diversified Trust Co lifted its holdings in Inspire Medical Systems by 3.8% during the 4th quarter. Diversified Trust Co now owns 4,686 shares of the company's stock valued at $869,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Analyst Upgrades and Downgrades

INSP has been the subject of several research reports. Truist Financial cut their price target 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. KeyCorp dropped their target price 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 dropped their target price 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. Stifel Nicolaus dropped their target price on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. Finally, Morgan Stanley dropped their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating for the company in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of "Moderate Buy" and an average target price of $218.90.

Insider Buying and Selling at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company's stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Trading Up 0.5 %

Inspire Medical Systems stock traded up $0.77 during midday trading on Friday, reaching $158.97. The company's stock had a trading volume of 315,939 shares, compared to its average volume of 583,830. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The business has a 50-day moving average price of $162.86 and a 200-day moving average price of $181.08. The stock has a market cap of $4.73 billion, a PE ratio of 91.89, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. As a group, research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal 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.