Federated Hermes Inc. Has $42.33 Million Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Federated Hermes Inc. lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 28.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 228,330 shares of the company’s stock after selling 91,530 shares during the period. Federated Hermes Inc.’s holdings in Inspire Medical Systems were worth $42,328,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC grew its position in Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after purchasing an additional 229 shares during the period. Merit Financial Group LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter valued at $313,000. Public Employees Retirement System of Ohio grew its holdings in shares of Inspire Medical Systems by 9.4% during the third quarter. Public Employees Retirement System of Ohio now owns 36,361 shares of the company’s stock valued at $7,674,000 after buying an additional 3,125 shares during the last quarter. Jennison Associates LLC bought a new stake in shares of Inspire Medical Systems during the fourth quarter worth about $8,821,000. Finally, Janney Montgomery Scott LLC raised its holdings in shares of Inspire Medical Systems by 248.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 4,806 shares of the company’s stock worth $891,000 after acquiring an additional 3,427 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the business’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the sale, the chief technology officer now owns 10,424 shares of the company’s stock, valued at $1,777,187.76. The trade was a 5.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on INSP shares. Stifel Nicolaus cut their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research note on Tuesday, January 21st. Morgan Stanley decreased their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday, February 11th. Robert W. Baird dropped their price objective on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Piper Sandler cut their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, Truist Financial lowered their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $226.70.

Inspire Medical Systems Price Performance

Shares of INSP opened at $149.72 on Tuesday. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40. The stock’s fifty day moving average price is $175.25 and its two-hundred day moving average price is $187.63. The firm has a market cap of $4.46 billion, a PE ratio of 86.54, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

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.