California Public Employees Retirement System Sells 12,240 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

California Public Employees Retirement System reduced its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 23.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,337 shares of the company’s stock after selling 12,240 shares during the quarter. California Public Employees Retirement System owned 0.14% of Inspire Medical Systems worth $8,206,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new stake in Inspire Medical Systems in the fourth quarter valued at approximately $27,000. NBC Securities Inc. purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at $34,000. RiverPark Advisors LLC bought a new stake in Inspire Medical Systems in the 3rd quarter worth $44,000. Headinvest LLC purchased a new position in shares of Inspire Medical Systems in the third quarter valued at about $48,000. Finally, International Assets Investment Management LLC bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at about $166,000. 94.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares of the company’s stock, valued at $551,308.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the sale, the insider now owns 3,029 shares in the company, valued at $551,308.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction 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 sale, the director now owns 10,190 shares of the company’s stock, valued at approximately $1,972,070.70. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,371 shares of company stock worth $15,664,278. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP stock opened at $249.74 on Friday. The company has a market capitalization of $7.57 billion, a price-to-earnings ratio of -337.49 and a beta of 1.35. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $330.00. The company’s 50-day moving average is $212.06 and its 200 day moving average is $188.13.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 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 firm had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. During the same quarter in the prior year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. As a group, research analysts predict that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on INSP shares. Morgan Stanley initiated coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective for the company. KeyCorp began 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 objective on the stock. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They issued an “outperform” rating and a $285.00 target price for the company. Truist Financial reiterated a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Mizuho restated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

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.