Exchange Traded Concepts LLC Buys New Shares in Inspire Medical Systems, Inc. (NYSE:INSP)

Exchange Traded Concepts LLC purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 475 shares of the company’s stock, valued at approximately $100,000.

A number of other large investors have also bought and sold shares of the stock. CWM LLC boosted its position in shares of Inspire Medical Systems by 550.5% during the 3rd quarter. CWM LLC now owns 8,105 shares of the company’s stock worth $1,711,000 after purchasing an additional 6,859 shares in the last quarter. GAMMA Investing LLC raised 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 worth $38,000 after buying an additional 151 shares during the period. Handelsbanken Fonder AB boosted its holdings in Inspire Medical Systems by 12.0% in the third quarter. Handelsbanken Fonder AB now owns 8,400 shares of the company’s stock worth $1,773,000 after acquiring an additional 900 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Inspire Medical Systems in the second quarter valued at approximately $1,580,000. Finally, Teachers Retirement System of The State of Kentucky grew its stake in Inspire Medical Systems by 1.1% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 40,938 shares of the company’s stock valued at $5,479,000 after acquiring an additional 437 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $197.64 on Wednesday. The company has a market capitalization of $5.87 billion, a PE ratio of -359.35 and a beta of 1.34. The business has a fifty day moving average price of $200.16 and a two-hundred day moving average price of $182.38. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

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

Insiders Place Their Bets

In related 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 completion of the sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction on 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 owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,692 shares of company stock valued at $1,099,207 over the last ninety days. 4.10% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Leerink Partners upped their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Robert W. Baird reduced their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Finally, KeyCorp cut their price target on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Four research 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, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $219.58.

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.