PNC Financial Services Group Inc. Acquires 4,844 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

PNC Financial Services Group Inc. lifted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 182.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,502 shares of the company’s stock after purchasing an additional 4,844 shares during the period. PNC Financial Services Group Inc.’s holdings in Inspire Medical Systems were worth $1,526,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in INSP. Envestnet Asset Management Inc. grew its position in Inspire Medical Systems by 40.8% during the third quarter. Envestnet Asset Management Inc. now owns 30,062 shares of the company’s stock worth $5,965,000 after buying an additional 8,711 shares in the last quarter. Stifel Financial Corp grew its position in Inspire Medical Systems by 186.8% during the third quarter. Stifel Financial Corp now owns 11,930 shares of the company’s stock worth $2,367,000 after buying an additional 7,770 shares in the last quarter. Northern Trust Corp grew its position in Inspire Medical Systems by 2.4% during the third quarter. Northern Trust Corp now owns 149,275 shares of the company’s stock worth $29,622,000 after buying an additional 3,501 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Inspire Medical Systems during the third quarter worth about $2,648,000. Finally, Miura Global Management LLC grew its position in Inspire Medical Systems by 87.5% during the third quarter. Miura Global Management LLC now owns 15,000 shares of the company’s stock worth $2,977,000 after buying an additional 7,000 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.81, for a total transaction of $109,586.74. Following the completion of the sale, the director now owns 10,636 shares in the company, valued at approximately $2,103,907.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $197.81, for a total transaction of $109,586.74. Following the completion of the transaction, the director now directly owns 10,636 shares of the company’s stock, valued at approximately $2,103,907.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,586 shares of company stock worth $11,770,484. Insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on INSP. Morgan Stanley started coverage on Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. Royal Bank of Canada started coverage on Inspire Medical Systems in a report on Friday, April 19th. They set an “outperform” rating and a $285.00 price objective on the stock. Bank of America decreased their price objective on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Mizuho reaffirmed a “buy” rating and set a $250.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Finally, Piper Sandler lifted their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $253.87.

Inspire Medical Systems Price Performance

INSP stock opened at $162.46 on Friday. The company has a 50 day moving average price of $186.57 and a 200 day moving average price of $193.12. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00. The stock has a market capitalization of $4.83 billion, a PE ratio of -295.38 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The firm had revenue of $164.01 million during the quarter, compared to analysts’ expectations of $161.41 million. During the same quarter in the previous year, the company posted ($0.53) EPS. Inspire Medical Systems’s revenue was up 28.2% on a year-over-year basis. As a group, equities analysts expect that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current fiscal year.

Inspire Medical Systems 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.