Inspire Medical Systems CTO Sells Shares

On 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 each, bringing the total value of the transaction to $12,470.00. Following this transaction, Rondoni now owns 11,322 shares of Inspire, which are valued at approximately $2,434,230. This sale reflects a 0.51% decrease in his ownership stake in the company. This information was made public in a filing with the Securities and Exchange Commission (SEC), which can be accessed for more details.

Inspire Medical Systems Stock Performance

As of last Friday, the stock of Inspire Medical Systems opened at $203.03. The company has recorded a 12-month low of $123.00 and a high of $257.40 during the same period. With a market capitalization of $6.08 billion, the stock has a PE ratio of 189.75 and a beta of 1.32, indicating its volatility compared to the market. The company's 50-day and 200-day simple moving averages are $191.71 and $183.39, respectively.

Recent Earnings Report

Inspire Medical Systems recently released its quarterly earnings on November 4th. The company reported earnings of $0.60 per share, significantly higher than analysts' expectations of $0.06. Inspire achieved a return on equity of 5.30% and a net profit margin of 4.37%. The company also generated revenue of $203.20 million for this quarter, surpassing the consensus estimate of $197.59 million. This marks a 32.6% increase in revenue compared to the same quarter from the previous year, where the business recorded a loss of $0.29 EPS. Analysts forecast that Inspire Medical Systems will report earnings of 1.33 per share for the current fiscal year.

Analysts Update Price Targets

Several analysts have recently updated their ratings for Inspire Medical Systems. Bank of America upgraded its rating from "neutral" to "buy" and set a new price target of $255.00, up from $220.00. Wells Fargo & Company increased its price target from $187.00 to $198.00 while maintaining an "equal weight" rating. Piper Sandler reiterated an "overweight" rating with a price target increased to $260.00. Stifel Nicolaus raised its target from $170.00 to $200.00, while Robert W. Baird elevated its price target to $252.00 from $240.00, giving the stock an "outperform" rating. Currently, data suggests that three analysts have a hold rating, while nine have rated the stock as a buy, leading to an average rating of "Moderate Buy" and a consensus price target of $233.58.

Institutional Investor Activity

In recent days, various institutional investors have made adjustments to their holdings in Inspire Medical Systems. State Street Corp boosted its stake by 78.0% in the third quarter, now owning 1,049,784 shares valued at approximately $221.56 million. Point72 Asset Management increased its position by 954.4%, acquiring an additional 289,075 shares to reach a total of 319,364 shares valued at $67.4 million. Other notable adjustments include Allspring Global Investments, which raised its stake by 798.3%, and AQR Capital Management, which increased its holdings by 152.7%. About 94.91% of Inspire Medical's stock is held by institutional investors, reflecting strong confidence in the company's prospects.

Company Overview

Inspire Medical Systems, Inc. specializes in developing and commercializing minimally invasive solutions aimed at patients with obstructive sleep apnea (OSA). The company is known for its Inspire system, which utilizes neurostimulation technology to deliver effective treatments for moderate to severe OSA.

Inspire, Medical, Shares