Northwest & Ethical Investments L.P. Sells 705 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Northwest & Ethical Investments L.P. lessened its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 5.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,630 shares of the company’s stock after selling 705 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Inspire Medical Systems were worth $2,455,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SouthState Corp purchased a new stake in Inspire Medical Systems during the 2nd quarter valued at $27,000. Farther Finance Advisors LLC boosted its stake in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its stake in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares during the last quarter. Quarry LP boosted its stake in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new stake in Inspire Medical Systems during the 2nd quarter valued at $53,000. Institutional investors own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $192.67 on Friday. The company has a market capitalization of $5.77 billion, a PE ratio of 180.07 and a beta of 1.36. The business’s fifty day moving average is $197.96 and its 200 day moving average is $176.21. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40.

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

Analysts Set New Price Targets

Several analysts have commented on the company. Robert W. Baird increased their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Leerink Partners raised their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Finally, Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $233.58.

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.