Arcadia Investment Management Corp MI Sells 83 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Arcadia Investment Management Corp MI lessened its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 37.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 141 shares of the company’s stock after selling 83 shares during the period. Arcadia Investment Management Corp MI’s holdings in Inspire Medical Systems were worth $29,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in shares of Inspire Medical Systems by 72.8% in the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock worth $193,870,000 after acquiring an additional 411,480 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. purchased a new position in Inspire Medical Systems in the fourth quarter worth about $1,271,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter worth approximately $3,369,000. OPTIMAS CAPITAL Ltd purchased a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $3,861,000. Finally, Calamos Advisors LLC bought a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $1,929,000. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Insider Activity

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was 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 directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction that occurred on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold 76,371 shares of company stock worth $15,664,278 over the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Morgan Stanley began coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. Bank of America cut shares of Inspire Medical Systems from a “buy” rating to a “neutral” rating and lowered their target price for the company from $265.00 to $225.00 in a research note on Wednesday. Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target for the company. KeyCorp started coverage on shares of Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price objective for the company. Finally, Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $256.53.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP traded up $10.95 during mid-day trading on Thursday, reaching $174.36. 1,454,956 shares of the company traded hands, compared to its average volume of 577,797. Inspire Medical Systems, Inc. has a 52 week low of $123.27 and a 52 week high of $330.00. The firm has a market cap of $5.28 billion, a PE ratio of -317.02 and a beta of 1.35. The company’s 50 day moving average price is $215.59 and its 200-day moving average price is $190.27.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.63) by $0.29. The firm had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company’s revenue was up 28.2% on a year-over-year basis. During the same period last year, the firm earned ($0.53) EPS. On average, research analysts predict that Inspire Medical Systems, Inc. will post -0.35 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.