Inspire Medical Systems, Inc. CTO John Rondoni Sells Shares

Inspire Medical Systems, Inc. (NYSE:INSP) recently saw its Chief Technology Officer, John Rondoni, sell 58 shares of the company's stock on January 7th. The transaction was executed at an average price of $215.00 per share, which brought the total value of the sale to $12,470.00. After this sale, Rondoni retains ownership of 11,322 shares in the company, which are currently valued at approximately $2,434,230. This sale indicates a 0.51% decrease in his overall ownership of the stock. The details of this transaction were disclosed in a filing with the Securities and Exchange Commission (SEC).

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems opened at $203.03 on Friday. Over the past 12 months, the stock has experienced a low of $123.00 and a high of $257.40. The company's market capitalization stands at $6.08 billion, with a price-to-earnings (P/E) ratio of 189.75. Additionally, the stock has a beta of 1.32, indicating a higher volatility compared to the market. The company's 50-day simple moving average is $191.71, while the 200-day simple moving average is $183.39.

Inspire Medical Systems last reported its quarterly earnings on November 4th. The company achieved earnings of $0.60 per share, significantly exceeding analysts' expectations of $0.06 by a margin of $0.54. The return on equity for the company was observed at 5.30%, with a net profit margin of 4.37%. Revenue for the quarter amounted to $203.20 million, surpassing the consensus estimate of $197.59 million. Compared to the same quarter in the previous year, revenue showed an impressive increase of 32.6%. Analysts predict that Inspire Medical Systems will report earnings per share of 1.33 for the current fiscal year.

Analysts Set New Price Targets

Following recent market movements, various analysts have offered updated insights regarding Inspire Medical Systems' stock. Bank of America upgraded its rating from "neutral" to "buy," setting a new price target of $255.00, up from $220.00. Meanwhile, Wells Fargo & Company increased their price target to $198.00 while maintaining an "equal weight" rating on the stock. Piper Sandler reaffirmed an "overweight" rating and lifted its target price on shares from $255.00 to $260.00. Additionally, Stifel Nicolaus raised the stock's target price to $200.00, while Robert W. Baird set a new target price at $252.00, with an rating of "outperform." Currently, three analysts have assigned a hold rating, while nine have given it a buy rating. Overall, the consensus rating for the stock stands at "Moderate Buy" with an average price target of $233.58 according to MarketBeat data.

Institutional Trading of Inspire Medical Systems

There has been notable activity among large investors regarding Inspire Medical Systems. State Street Corp increased its stake by 78.0% during the third quarter, now owning 1,049,784 shares valued at $221,557,000 after purchasing an additional 459,990 shares. Point72 Asset Management bolstered its position by 954.4%, owning 319,364 shares worth $67,402,000 after acquiring 289,075 shares. Allspring Global Investments raised its stake by 798.3%, now holding 267,852 shares valued at $56,530,000, while AQR Capital Management raised its position by 152.7%, acquiring 231,845 shares worth around $31,028,000. Principal Financial Group also significantly increased their holdings. Currently, institutional investors hold approximately 94.91% of the stock, indicating strong institutional confidence in the company.

About Inspire Medical Systems

Inspire Medical Systems, Inc. is a medical technology firm dedicated to developing and marketing minimally invasive solutions for patients suffering from obstructive sleep apnea (OSA), both in the United States and globally. The company offers an innovative neurostimulation technology known as the Inspire system, which effectively treats moderate to severe OSA.

Inspire, Medical, Shares