abrdn plc Makes New Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

abrdn plc purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 45,961 shares of the company's stock, valued at approximately $9,350,000. abrdn plc owned about 0.16% of Inspire Medical Systems as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of INSP. McGlone Suttner Wealth Management Inc. bought a new stake in Inspire Medical Systems in the 4th quarter valued at about $27,000. NBC Securities Inc. bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $34,000. RiverPark Advisors LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $44,000. Arcadia Investment Management Corp MI raised its position in shares of Inspire Medical Systems by 44.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company's stock worth $44,000 after buying an additional 69 shares in the last quarter. Finally, Headinvest LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $48,000. 94.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

INSP has been the topic of a number of recent analyst reports. Truist Financial restated a "buy" rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an "overweight" rating and a $250.00 price target on the stock. KeyCorp initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They set an "overweight" rating and a $278.00 price target on the stock. Stifel Nicolaus restated a "hold" rating and set a $210.00 price target on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Finally, Mizuho reaffirmed a "buy" rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $272.20.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the business's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company's stock, valued at $551,308.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Randy Ban sold 3,060 shares of the company's stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company's stock, valued at $551,308.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jerry C. Griffin sold 554 shares of the company's stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.53, for a total value of $107,215.62. Following the completion of the sale, the director now owns 10,190 shares in the company, valued at $1,972,070.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,371 shares of company stock valued at $15,664,278. 4.10% of the stock is currently owned by corporate insiders.

Inspire Medical Systems Price Performance

INSP stock traded up $6.44 during midday trading on Friday, reaching $237.45. 604,213 shares of the company were exchanged, compared to its average volume of 520,360. The business has a 50-day moving average price of $207.54 and a two-hundred day moving average price of $185.82. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $330.00. The firm has a market capitalization of $7.19 billion, a price-to-earnings ratio of -320.88 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its 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 during the quarter, compared to analysts' expectations of $186.75 million. During the same quarter in the previous year, the business posted $0.10 earnings per share. Inspire Medical Systems's quarterly revenue was up 39.6% on a year-over-year basis. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 earnings per share 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.