SG Americas Securities LLC Decreases Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

SG Americas Securities LLC reduced its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 63.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,656 shares of the company's stock after selling 4,661 shares during the period. SG Americas Securities LLC's holdings in Inspire Medical Systems were worth $540,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of INSP. Resurgent Financial Advisors LLC purchased a new stake in Inspire Medical Systems during the 2nd quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in Inspire Medical Systems during the 4th quarter valued at approximately $29,000. NBC Securities Inc. purchased a new stake in Inspire Medical Systems in the 3rd quarter worth approximately $34,000. Parkside Financial Bank & Trust bought a new stake in shares of Inspire Medical Systems in the 1st quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. increased its stake in shares of Inspire Medical Systems by 7,850.0% during the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company's stock valued at $40,000 after buying an additional 157 shares during the period. 94.91% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

INSP has been the subject of a number of research analyst reports. Morgan Stanley started coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 price target for the company. Jefferies Financial Group began coverage on Inspire Medical Systems in a research note on Friday, January 19th. They issued a "buy" rating and a $245.00 target price for the company. Mizuho restated a "buy" rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Stifel Nicolaus reiterated a "hold" rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company cut shares of Inspire Medical Systems from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $245.00 to $187.00 in a report on Wednesday, December 13th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $271.29.

Inspire Medical Systems Stock Performance

Shares of INSP traded up $6.84 during mid-day trading on Friday, reaching $222.90. The stock had a trading volume of 541,826 shares, compared to its average volume of 521,837. The business has a fifty day moving average of $199.05 and a 200 day moving average of $181.20. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of -301.22 and a beta of 1.37. Inspire Medical Systems, Inc. has a 12 month low of $123.27 and a 12 month high of $330.00.

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

Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 12,230 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the transaction, the insider now directly owns 3,029 shares of the company's stock, valued at $561,485.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, insider Randy Ban sold 12,230 shares of the company's stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $561,485.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company's stock, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 61,371 shares of company stock valued at $12,213,828. Insiders own 4.10% of the company's stock.

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.