Wells Fargo & Company MN Raises Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Wells Fargo & Company MN boosted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 13.3% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,013 shares of the company's stock after buying an additional 2,230 shares during the quarter. Wells Fargo & Company MN owned approximately 0.06% of Inspire Medical Systems worth $3,525,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INSP. Tidal Investments LLC bought a new position in Inspire Medical Systems during the third quarter valued at about $320,000. Synovus Financial Corp lifted its holdings in Inspire Medical Systems by 7.5% during the third quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock valued at $739,000 after purchasing an additional 244 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in Inspire Medical Systems during the third quarter valued at about $1,208,000. Principal Financial Group Inc. lifted its holdings in Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Finally, Diversified Trust Co lifted its holdings in Inspire Medical Systems by 3.8% during the fourth quarter. Diversified Trust Co now owns 4,686 shares of the company's stock valued at $869,000 after purchasing an additional 173 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Price Performance

NYSE INSP traded down $1.27 on Monday, reaching $157.79. 233,713 shares of the company's stock traded hands, compared to its average volume of 582,430. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a 50-day simple moving average of $162.45 and a 200 day simple moving average of $180.71. The stock has a market cap of $4.70 billion, a PE ratio of 91.21, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, CTO John Rondoni sold 583 shares of the firm's stock in a transaction that occurred 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 transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 25,584 shares of the firm's 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 completion of the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

INSP has been the topic of several recent research reports. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Royal Bank of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Finally, Wells Fargo & Company lowered their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $218.90.

Inspire Medical Systems Company 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.