Aigen Investment Management LP Trims Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Aigen Investment Management LP lowered its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 78.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,122 shares of the company’s stock after selling 11,071 shares during the period. Aigen Investment Management LP’s holdings in Inspire Medical Systems were worth $635,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. McGlone Suttner Wealth Management Inc. purchased a new stake in Inspire Medical Systems in the fourth quarter valued at $27,000. NBC Securities Inc. purchased a new stake in Inspire Medical Systems in the third quarter valued at $34,000. RiverPark Advisors LLC purchased a new stake in Inspire Medical Systems in the third quarter valued at $44,000. Headinvest LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter valued at $48,000. Finally, Principal Securities Inc. acquired a new stake in shares of Inspire Medical Systems in the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $159.01 on Thursday. The stock has a 50-day simple moving average of $209.71 and a 200-day simple moving average of $190.84. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.29. The firm had revenue of $164.01 million during the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm’s revenue was up 28.2% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.53) EPS. On average, research analysts anticipate that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the transaction, the chief executive officer now owns 63,658 shares in the company, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Randy Ban sold 3,060 shares of the business’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 transaction, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. 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 ninety days. Insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on INSP. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Bank of America cut Inspire Medical Systems from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $265.00 to $225.00 in a research note on Wednesday, May 8th. Piper Sandler lifted their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th. Morgan Stanley assumed coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research note on Friday, April 19th. They set an “outperform” rating and a $285.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $256.53.

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.