Beacon Investment Advisory Services Inc. Trims Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Beacon Investment Advisory Services Inc. decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 74.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,062 shares of the company’s stock after selling 5,910 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Inspire Medical Systems were worth $382,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in INSP. State Street Corp raised its position in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company’s stock worth $221,557,000 after acquiring an additional 459,990 shares during the period. Point72 Asset Management L.P. increased its stake in shares of Inspire Medical Systems by 954.4% in the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company’s stock worth $67,402,000 after purchasing an additional 289,075 shares in the last quarter. Allspring Global Investments Holdings LLC increased 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 purchasing an additional 238,034 shares in the last quarter. Riverbridge Partners LLC bought a new position in Inspire Medical Systems in the 4th quarter worth $26,342,000. Finally, AQR Capital Management LLC lifted its position in Inspire Medical Systems by 152.7% during the second 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. 94.91% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have commented on INSP. Stifel Nicolaus reduced their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday. Truist Financial restated a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird increased their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company lifted their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $231.64.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $187.22 on Friday. The company has a market cap of $5.61 billion, a P/E ratio of 174.97 and a beta of 1.32. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The firm’s fifty day moving average is $188.72 and its two-hundred day moving average is $186.05.

Inspire Medical Systems (NYSE:INSP) last issued its 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 return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same period in the previous year, the firm posted ($0.29) earnings per share. The business’s revenue was up 32.6% compared to the same quarter last year. As a group, analysts forecast that Inspire Medical Systems, Inc. will post 1.35 EPS for the current fiscal year.

Inspire Medical Systems Company 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.