Inspire Medical Systems, Inc. CTO John Rondoni Sells Shares

On January 7th, John Rondoni, the Chief Technology Officer 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, resulting in a total transaction value of $12,470.00. After this sale, Rondoni now holds 11,322 shares of Inspire Medical Systems, which are valued at approximately $2,434,230. This sale reflects a 0.51% decrease in his ownership stake in the company.

Inspire Medical Systems Stock Performance

The stock of Inspire Medical Systems opened at $203.03 on the last trading day. The company has seen a 12-month low of $123.00 and a high of $257.40 during the same period. Currently, Inspire Medical Systems has a market capitalization of $6.08 billion, a PE ratio of 189.75, and a beta of 1.32. The company's 50-day simple moving average stands at $191.71, while its 200-day simple moving average is $183.39.

Inspire Medical Systems recently reported quarterly earnings on November 4th, where the company announced earnings per share (EPS) of $0.60, significantly exceeding analysts' expectations of $0.06 by $0.54. The company also had a return on equity of 5.30% with a net margin of 4.37%. Revenues for the quarter were reported at $203.20 million, compared to the consensus estimate of $197.59 million. This revenue reflects a 32.6% increase compared to the same quarter from the previous year. Analysts estimate that Inspire Medical Systems will post an EPS of 1.33 for the current fiscal year.

Analysts' Opinions and Price Targets

Recent comments from various research analysts indicate a positive outlook for Inspire Medical Systems stock. For instance, Bank of America upgraded the stock from a 'neutral' rating to a 'buy' and increased its price target from $220.00 to $255.00. Wells Fargo also raised its price target from $187.00 to $198.00 while maintaining an 'equal weight' rating. Piper Sandler reaffirmed an 'overweight' rating and raised the price target to $260.00. Meanwhile, Stifel Nicolaus adjusted its target price to $200.00 from a previous $170.00, and Robert W. Baird moved its target from $240.00 to $252.00, maintaining an 'outperform' rating. As a result of this activity, the overall consensus rating on the stock is categorized as a 'Moderate Buy' with an average price target of $233.58.

Institutional Investor Activity

Recently, there has been notable activity among institutional investors with respect to Inspire Medical Systems. State Street Corp increased its position in the company by a significant 78%, acquiring a total of 1,049,784 shares valued at $221,557,000. Additionally, Point72 Asset Management raised its stake by an impressive 954.4%, adding 289,075 shares to hold a total of 319,364 shares worth $67,402,000. Other institutional investors, such as Allspring Global Investments and Principal Financial Group, have also increased their positions dramatically. Currently, approximately 94.91% of Inspire Medical Systems’ shares are held by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc. is a medical technology company dedicated to providing minimally invasive solutions for patients suffering from obstructive sleep apnea (OSA). The company specializes in developing the Inspire system, which is a neurostimulation technology designed to deliver safe and effective treatment options for moderate to severe OSA.

Inspire, Medical, Shares