Apollon Wealth Management LLC Trims Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Apollon Wealth Management LLC decreased its position in Inspire Medical Systems, Inc. (NYSE:INSPGet Rating) by 6.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,141 shares of the company’s stock after selling 376 shares during the period. Apollon Wealth Management LLC’s holdings in Inspire Medical Systems were worth $939,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. National Asset Management Inc. raised its stake in shares of Inspire Medical Systems by 11.7% in the first quarter. National Asset Management Inc. now owns 1,542 shares of the company’s stock valued at $396,000 after acquiring an additional 161 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Inspire Medical Systems by 0.7% in the 1st quarter. Arizona State Retirement System now owns 7,395 shares of the company’s stock valued at $1,898,000 after purchasing an additional 55 shares during the period. Envestnet Asset Management Inc. grew its stake in Inspire Medical Systems by 5.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 18,764 shares of the company’s stock worth $4,817,000 after buying an additional 973 shares during the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in shares of Inspire Medical Systems in the first quarter valued at approximately $269,000. Finally, Victory Capital Management Inc. grew its position in shares of Inspire Medical Systems by 21.7% during the first quarter. Victory Capital Management Inc. now owns 319,216 shares of the company’s stock worth $81,705,000 after acquiring an additional 56,979 shares during the last quarter. Institutional investors and hedge funds own 98.89% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $214.86 on Tuesday. Inspire Medical Systems, Inc. has a one year low of $142.74 and a one year high of $272.04. The firm has a fifty day moving average of $188.74 and a two-hundred day moving average of $190.98.

Inspire Medical Systems (NYSE:INSPGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.75) by $0.15. The business had revenue of $109.19 million for the quarter, compared to analyst estimates of $95.62 million. Inspire Medical Systems had a negative net margin of 14.47% and a negative return on equity of 17.52%. On average, equities research analysts forecast that Inspire Medical Systems, Inc. will post -2.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Truist Financial decreased their price target on shares of Inspire Medical Systems from $280.00 to $240.00 and set a “buy” rating for the company in a research note on Monday, October 17th. Piper Sandler decreased their target price on shares of Inspire Medical Systems from $310.00 to $285.00 and set an “overweight” rating for the company in a research note on Wednesday, August 3rd. Finally, Lake Street Capital dropped their price target on Inspire Medical Systems from $320.00 to $250.00 in a research report on Wednesday, November 2nd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $263.60.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 9,217 shares of the stock in a transaction dated Friday, November 11th. The shares were sold at an average price of $221.42, for a total value of $2,040,828.14. Following the completion of the transaction, the director now directly owns 2,060 shares of the company’s stock, valued at $456,125.20. The sale was disclosed in a filing with the SEC, which is available at this link. 5.00% of the stock is owned by corporate insiders.

Inspire Medical Systems Company Profile

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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.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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