PDT Partners LLC Reduces Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

PDT Partners LLC lowered its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 22.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,042 shares of the company's stock after selling 5,345 shares during the period. PDT Partners LLC owned about 0.06% of Inspire Medical Systems worth $3,345,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in INSP. Mutual of America Capital Management LLC raised its holdings in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock valued at $842,000 after buying an additional 55 shares during the last quarter. MML Investors Services LLC boosted its stake in Inspire Medical Systems by 0.9% during the 4th quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after acquiring an additional 67 shares during the last quarter. Mariner LLC grew its holdings in shares of Inspire Medical Systems by 1.6% in the 4th quarter. Mariner LLC now owns 4,837 shares of the company's stock valued at $897,000 after buying an additional 77 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Inspire Medical Systems by 1.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company's stock worth $1,461,000 after acquiring an additional 79 shares in the last quarter. Finally, Xponance Inc. increased its stake in Inspire Medical Systems by 2.2% during the 4th quarter. Xponance Inc. now owns 3,824 shares of the company's stock worth $709,000 after purchasing an additional 82 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Robert W. Baird decreased their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating for the company in a report on Tuesday, February 11th. Piper Sandler reduced their price objective 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. Morgan Stanley lowered their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 11th. Wells Fargo & Company cut their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. Finally, Royal Bank of Canada decreased their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $218.90.

Inspire Medical Systems Trading Up 1.3 %

NYSE:INSP traded up $1.99 during trading hours on Friday, hitting $159.89. 505,704 shares of the company were exchanged, compared to its average volume of 583,401. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The stock has a market capitalization of $4.76 billion, a price-to-earnings ratio of 92.42, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. The company has a fifty day simple moving average of $161.14 and a 200 day simple moving average of $180.05.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on 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 transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by company insiders.

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.