Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 7,972 shares of the company’s stock after selling 603 shares during the period. Beacon Investment Advisory Services Inc.’s holdings in Inspire Medical Systems were worth $1,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in INSP. Allspring Global Investments Holdings LLC lifted its stake in shares of Inspire Medical Systems by 798.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after acquiring an additional 238,034 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after acquiring an additional 192,238 shares during the period. AQR Capital Management LLC increased its holdings in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock valued at $31,028,000 after purchasing an additional 140,090 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares in the last quarter. Finally, Eagle Asset Management Inc. increased its holdings in shares of Inspire Medical Systems by 82.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock valued at $51,269,000 after purchasing an additional 117,819 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insiders Place Their Bets

In other Inspire Medical Systems 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 sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSP. Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price target (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Robert W. Baird increased their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Leerink Partners increased 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, Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $188.70 on Tuesday. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The stock has a market capitalization of $5.66 billion, a P/E ratio of 176.36 and a beta of 1.31. The firm’s 50-day moving average is $197.40 and its two-hundred day moving average is $176.66.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the company earned ($0.29) EPS. The firm’s revenue for the quarter was up 32.6% compared to the same quarter last year. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current 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.