Richard Buchholz Sells 15,000 Shares of Inspire Medical Systems, Inc. (NYSE:INSP) Stock

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Inspire Medical Systems Stock Down 1.0 %

Shares of NYSE INSP traded down $2.39 during trading hours on Thursday, reaching $241.12. 880,106 shares of the stock traded hands, compared to its average volume of 536,585. The company's 50-day simple moving average is $202.06 and its two-hundred day simple moving average is $183.36. The company has a market capitalization of $7.31 billion, a P/E ratio of -329.05 and a beta of 1.37. Inspire Medical Systems, Inc. has a 52-week low of $123.27 and a 52-week high of $330.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.53. The business had revenue of $192.51 million for the quarter, compared to analysts' expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The business's quarterly revenue was up 39.6% on a year-over-year basis. During the same period last year, the business earned $0.10 earnings per share. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Several institutional investors have recently added to or reduced their stakes in the business. Diversified Trust Co lifted its stake in shares of Inspire Medical Systems by 26.6% in the 1st quarter. Diversified Trust Co now owns 5,471 shares of the company's stock valued at $1,175,000 after acquiring an additional 1,150 shares during the last quarter. Private Ocean LLC bought a new stake in Inspire Medical Systems in the first quarter valued at approximately $2,738,000. Rheos Capital Works Inc. boosted its stake in shares of Inspire Medical Systems by 25.8% during the first quarter. Rheos Capital Works Inc. now owns 79,400 shares of the company's stock valued at $17,054,000 after purchasing an additional 16,300 shares during the period. Massmutual Trust Co. FSB ADV grew its holdings in shares of Inspire Medical Systems by 176,312.5% in the first quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company's stock worth $3,031,000 after purchasing an additional 14,105 shares during the last quarter. Finally, Moody National Bank Trust Division bought a new position in shares of Inspire Medical Systems in the first quarter worth approximately $238,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on INSP shares. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 price objective for the company. Morgan Stanley assumed coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 target price on the stock. Jefferies Financial Group started coverage on Inspire Medical Systems in a research note on Friday, January 19th. They set a "buy" rating and a $245.00 price target for the company. Stifel Nicolaus reaffirmed a "hold" rating and set a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Finally, Truist Financial reiterated a "buy" rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Four investment 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 $271.29.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.