Inspire Medical Systems, Inc. (NYSE:INSP) Stock Position Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 13.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,821 shares of the company's stock after selling 22,350 shares during the quarter. Victory Capital Management Inc. owned 0.48% of Inspire Medical Systems worth $29,054,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems during the 4th quarter valued at approximately $27,000. NBC Securities Inc. acquired a new stake in Inspire Medical Systems during the third quarter valued at $34,000. RiverPark Advisors LLC purchased a new position in Inspire Medical Systems in the third quarter valued at $44,000. Headinvest LLC acquired a new position in shares of Inspire Medical Systems in the third quarter worth about $48,000. Finally, International Assets Investment Management LLC purchased a new stake in shares of Inspire Medical Systems during the 4th quarter worth about $166,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $81.16 during trading hours on Wednesday, reaching $164.47. The company had a trading volume of 4,645,146 shares, compared to its average volume of 567,926. The stock has a fifty day moving average of $215.68 and a 200-day moving average of $190.38. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -222.26 and a beta of 1.35. 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 posted its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business had revenue of $164.01 million for the quarter, compared to analyst estimates of $161.41 million. During the same quarter in the previous year, the firm earned ($0.53) EPS. The company's quarterly revenue was up 28.2% compared to the same quarter last year. On average, analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent analyst reports. Bank of America lowered Inspire Medical Systems from a "buy" rating to a "neutral" rating and cut their price target for the company from $265.00 to $225.00 in a research note on Wednesday. Morgan Stanley initiated coverage on Inspire Medical Systems in a research report on Tuesday, March 19th. They set an "overweight" rating and a $250.00 target price on the stock. Jefferies Financial Group began coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a "buy" rating and a $245.00 price target for the company. Royal Bank of Canada started coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They set an "outperform" rating and a $285.00 price objective for the company. Finally, Piper Sandler lifted their target price on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an "overweight" rating in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $256.53.

Insider Activity

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares in the company, valued at $13,055,619.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jerry C. Griffin sold 554 shares of the business's stock in a transaction on Monday, March 11th. The stock was sold at an average price of $198.05, for a total value of $109,719.70. Following the sale, the director now owns 9,744 shares in the company, valued at approximately $1,929,799.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Timothy P. Herbert sold 40,000 shares of the firm's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the transaction, the chief executive officer now owns 63,658 shares of the company's stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders sold a total of 76,371 shares of company stock valued at $15,664,278 in the last 90 days. Company insiders own 4.10% of the company's stock.

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.