Federated Hermes Inc. Reduces Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Federated Hermes Inc. cut its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 8.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 453,268 shares of the company’s stock after selling 43,132 shares during the quarter. Federated Hermes Inc. owned 1.54% of Inspire Medical Systems worth $92,208,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. purchased a new stake in Inspire Medical Systems during the 4th quarter valued at about $27,000. Altshuler Shaham Ltd purchased a new stake in Inspire Medical Systems during the 4th quarter valued at about $29,000. NBC Securities Inc. purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at about $34,000. Parkside Financial Bank & Trust purchased a new stake in Inspire Medical Systems in the 1st quarter worth approximately $37,000. Finally, Meeder Asset Management Inc. lifted its holdings in Inspire Medical Systems by 7,850.0% in the 4th quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock worth $40,000 after buying an additional 157 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial reiterated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Morgan Stanley assumed coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective for the company. Jefferies Financial Group assumed coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective for the company. Finally, Royal Bank of Canada assumed coverage on Inspire Medical Systems in a research report on Friday. They issued an “outperform” rating and a $285.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $272.20.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Richard Buchholz sold 15,000 shares of Inspire Medical Systems stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the sale, the chief financial officer now directly owns 28,271 shares in the company, valued at $6,503,178.13. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock valued at $15,664,278 over the last ninety days. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $241.12 on Friday. The company has a market capitalization of $7.31 billion, a PE ratio of -325.84 and a beta of 1.37. The business’s fifty day moving average is $202.84 and its 200 day moving average is $183.76. 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 released its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to the consensus estimate of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s quarterly revenue was up 39.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.10 earnings per share. On average, sell-side analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current year.

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.