Gilliland Jeter Wealth Management LLC Sells 2,685 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Gilliland Jeter Wealth Management LLC reduced its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 17.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,823 shares of the company’s stock after selling 2,685 shares during the period. Inspire Medical Systems makes up about 0.9% of Gilliland Jeter Wealth Management LLC’s investment portfolio, making the stock its 27th biggest position. Gilliland Jeter Wealth Management LLC’s holdings in Inspire Medical Systems were worth $2,706,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INSP. Van ECK Associates Corp grew its position in shares of Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after buying an additional 72 shares during the period. Amalgamated Bank grew its holdings in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock valued at $268,000 after purchasing an additional 79 shares during the period. The Manufacturers Life Insurance Company increased its stake in Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after purchasing an additional 92 shares in the last quarter. Bessemer Group Inc. raised its holdings in Inspire Medical Systems by 1.2% in the first quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock worth $1,820,000 after purchasing an additional 100 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the period. 94.91% of the stock is owned by institutional investors.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was 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 of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,692 shares of company stock worth $1,099,207. Insiders own 4.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on INSP. KeyCorp lowered their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Robert W. Baird lowered their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Leerink Partners upped their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of “Moderate Buy” and a consensus target price of $219.58.

Inspire Medical Systems Stock Up 2.3 %

NYSE:INSP opened at $201.78 on Monday. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of -366.87 and a beta of 1.34. The stock’s 50 day moving average price is $199.89 and its two-hundred day moving average price is $182.65.

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