Inspire Medical Systems, Inc. (NYSE:INSP) Stock Holdings Decreased by Mutual of America Capital Management LLC

Posted by Defense World Staff on Aug 5th, 2023

Mutual of America Capital Management LLC reduced its position in Inspire Medical Systems, Inc. (NYSE:INSP – Free Report) by 4.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,119 shares of the company’s stock after selling 834 shares during the period. Mutual of America Capital Management LLC owned about 0.06% of Inspire Medical Systems worth $4,241,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in INSP. Vanguard Group Inc. boosted its holdings in shares of Inspire Medical Systems by 4.3% during the third quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company’s stock worth $507,934,000 after purchasing an additional 117,888 shares during the period. Macquarie Group Ltd. lifted its stake in Inspire Medical Systems by 0.9% in the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company’s stock valued at $281,402,000 after acquiring an additional 14,017 shares during the last quarter. Invesco Ltd. lifted its stake in Inspire Medical Systems by 9.8% in the first quarter. Invesco Ltd. now owns 885,306 shares of the company’s stock valued at $227,249,000 after acquiring an additional 78,975 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Inspire Medical Systems by 26.5% in the fourth quarter. William Blair Investment Management LLC now owns 833,423 shares of the company’s stock valued at $209,923,000 after acquiring an additional 174,811 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Inspire Medical Systems by 7.5% in the first quarter. Wellington Management Group LLP now owns 632,988 shares of the company’s stock valued at $162,482,000 after acquiring an additional 43,924 shares during the last quarter. 98.05% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 2.5 %

Shares of INSP stock opened at $277.17 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $159.62 and a 1 year high of $330.00. The firm’s fifty day simple moving average is $306.51 and its 200 day simple moving average is $276.91. The firm has a market capitalization of $8.04 billion, a P/E ratio of -192.48 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP – Get Free Report) last announced its earnings results on Tuesday, August 1st. The company reported ($0.41) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.51) by $0.10. Inspire Medical Systems had a negative net margin of 7.81% and a negative return on equity of 8.38%. The business had revenue of $151.09 million for the quarter, compared to analyst estimates of $136.47 million. During the same quarter in the previous year, the firm posted ($0.53) earnings per share. Inspire Medical Systems’s revenue was up 65.3% compared to the same quarter last year. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post -1.18 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 529 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $280.00, for a total value of $148,120.00. Following the sale, the director now owns 3,200 shares of the company’s stock, valued at approximately $896,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Inspire Medical Systems news, VP Steven Jandrich sold 4,525 shares of the business’s stock in a transaction on Friday, May 12th. The shares were sold at an average price of $292.84, for a total value of $1,325,101.00. Following the sale, the vice president now owns 4,371 shares of the company’s stock, valued at approximately $1,280,003.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry C. Griffin sold 529 shares of the business’s stock in a transaction on Monday, May 8th. The shares were sold at an average price of $280.00, for a total transaction of $148,120.00. Following the completion of the sale, the director now directly owns 3,200 shares in the company, valued at approximately $896,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,600 shares of company stock valued at $3,745,987. 4.50% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on INSP shares. KeyCorp lifted their target price on shares of Inspire Medical Systems from $321.00 to $335.00 in a research note on Thursday, June 8th. UBS Group lifted their target price on shares of Inspire Medical Systems from $395.00 to $405.00 in a research note on Wednesday. Lake Street Capital lifted their target price on shares of Inspire Medical Systems from $305.00 to $350.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on shares of Inspire Medical Systems from $300.00 to $350.00 in a research note on Thursday, July 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Inspire Medical Systems from $300.00 to $340.00 and gave the stock an “overweight” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of “Buy” and a consensus target price of $353.92.

Inspire Medical Systems Company Profile

(Free Report)

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.