Northern Trust Corp Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Northern Trust Corp boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 40.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,249 shares of the company's stock after buying an additional 69,995 shares during the quarter. Northern Trust Corp owned approximately 0.81% of Inspire Medical Systems worth $45,279,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in shares of Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock worth $606,259,000 after buying an additional 38,219 shares during the period. Invesco Ltd. grew its position in Inspire Medical Systems by 14.3% in the 4th quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after purchasing an additional 99,030 shares during the period. Geode Capital Management LLC grew its position in Inspire Medical Systems by 0.6% in the 4th quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock valued at $90,188,000 after purchasing an additional 2,687 shares during the period. TimesSquare Capital Management LLC acquired a new stake in Inspire Medical Systems in the 4th quarter valued at $80,419,000. Finally, Allspring Global Investments Holdings LLC grew its position in Inspire Medical Systems by 21.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock valued at $61,709,000 after purchasing an additional 58,447 shares during the period. Institutional investors own 94.91% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on INSP shares. Stifel Nicolaus reduced 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 report on Monday, April 21st. Robert W. Baird upped their target price 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. Royal Bank of Canada reduced their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Piper Sandler reduced their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. Finally, JPMorgan Chase & Co. reduced 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 report on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Insider Activity

In related news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,527 shares of company stock worth $4,851,660. Company insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP traded up $5.29 during mid-day trading on Monday, hitting $156.54. 376,686 shares of the stock were exchanged, compared to its average volume of 565,872. The company has a market cap of $4.62 billion, a PE ratio of 90.49, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00. The firm has a 50-day moving average of $157.70 and a two-hundred day moving average of $178.09.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Inspire Medical Systems's quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.34) EPS. On average, sell-side analysts predict 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.