TD Asset Management Inc Sells 3,504 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

TD Asset Management Inc trimmed its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 11.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,884 shares of the company’s stock after selling 3,504 shares during the quarter. TD Asset Management Inc owned approximately 0.09% of Inspire Medical Systems worth $3,732,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its stake in shares of Inspire Medical Systems by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,938 shares of the company’s stock worth $53,693,000 after acquiring an additional 7,716 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at approximately $54,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Inspire Medical Systems by 88.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 7,118 shares of the company’s stock valued at $1,448,000 after purchasing an additional 3,337 shares during the last quarter. Great Lakes Advisors LLC bought a new stake in shares of Inspire Medical Systems in the 4th quarter worth approximately $201,000. Finally, Norges Bank purchased a new stake in shares of Inspire Medical Systems in the 4th quarter worth approximately $49,116,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

INSP stock opened at $203.54 on Friday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The company has a market cap of $6.07 billion, a P/E ratio of -370.07 and a beta of 1.33. The stock’s fifty day moving average price is $167.73 and its 200-day moving average price is $180.94.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The business had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm posted ($0.41) earnings per share. The business’s revenue for the quarter was up 29.6% on a year-over-year basis. As a group, analysts expect that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. KeyCorp dropped their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. Robert W. Baird dropped their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Bank of America reduced their price objective on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research note on Monday, June 3rd. Leerink Partners lifted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday. Finally, Truist Financial cut their price target on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $214.85.

About Inspire Medical Systems

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.