Inspire Medical Systems, Inc. CTO Sells Shares

On Tuesday, January 7th, John Rondoni, the Chief Technology Officer (CTO) of Inspire Medical Systems, Inc. (NYSE: INSP), sold 58 shares of the company's stock. The shares were sold at an average price of $215.00, leading to a total transaction value of $12,470.00. Following this sale, Rondoni now owns a total of 11,322 shares in Inspire Medical Systems, which are valued at approximately $2,434,230. This sale marks a 0.51% decrease in his shareholding. The transaction was reported in a filing with the Securities and Exchange Commission (SEC), which can be accessed for further details.

Inspire Medical Systems Price Performance

As of Friday, the stock of Inspire Medical Systems opened at $203.03. Over the past year, the stock has seen a low of $123.00 and a high of $257.40. The company has a market capitalization of $6.08 billion and boasts a Price-to-Earnings (PE) ratio of 189.75, with a beta of 1.32. Its 50-day simple moving average stands at $191.71, and the 200-day simple moving average is $183.39.

Quarterly Earnings Update

Inspire Medical Systems recently released its quarterly earnings on November 4th. The company reported earnings per share (EPS) of $0.60, significantly exceeding analysts' expectations of $0.06 by $0.54. The company's return on equity was recorded at 5.30%, with a net profit margin of 4.37%. The revenue for the quarter amounted to $203.20 million, surpassing the anticipated $197.59 million. This reflects a remarkable 32.6% increase in quarterly revenue compared to the same period last year. Current projections suggest that Inspire Medical Systems will achieve earnings of $1.33 per share for the fiscal year.

Analysts and Price Targets

Various research analysts have recently provided insights on Inspire Medical Systems' stock. Bank of America upgraded its rating from "neutral" to "buy" and increased the price target from $220.00 to $255.00. Simultaneously, Wells Fargo adjusted their price objective from $187.00 to $198.00, maintaining an "equal weight" rating on the stock. Piper Sandler reiterated an “overweight” rating, raising its target price from $255.00 to $260.00. Meanwhile, Stifel Nicolaus maintained a “hold” rating, increasing its price target from $170.00 to $200.00. Robert W. Baird also raised their price objective from $240.00 to $252.00, rating the stock as “outperform.” A total of three analysts have rated the stock as a hold, while nine rated it as a buy, leading to a weighted average recommendation of "Moderate Buy" with a consensus price target of $233.58.

Institutional Trading Activity

Recent reports indicate that several large institutional investors have made significant trades involving Inspire Medical Systems. State Street Corp enhanced its stake in the company by 78.0% in the third quarter, acquiring 459,990 shares to reach a total of 1,049,784 shares valued at approximately $221,557,000. Point72 Asset Management L.P. significantly increased its holdings by 954.4%, now owning 319,364 shares worth $67,402,000 after purchasing an additional 289,075 shares. Allspring Global Investments raised its stake by 798.3%, owning 267,852 shares after an additional acquisition of 238,034 shares. AQR Capital Management LLC lifted its holdings by 152.7%, and Principal Financial Group Inc. raised its position significantly by 3,812.6%. Collectively, institutional investors hold about 94.91% of the stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc. specializes in developing and commercializing minimally invasive medical solutions for individuals suffering from obstructive sleep apnea (OSA) both in the U.S. and internationally. The company is known for the Inspire system, a neurostimulation technology that offers a safe and effective treatment for moderate to severe cases of OSA.

Inspire, Medical, Shares