Inspire Medical Systems, Inc. (NYSE:INSP) Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 118.5% during the second quarter, Holdings Channel.com reports. The fund owned 3,079 shares of the company’s stock after purchasing an additional 1,670 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Inspire Medical Systems were worth $412,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Inspire Medical Systems by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after buying an additional 453,294 shares during the period. Frontier Capital Management Co. LLC raised its holdings in Inspire Medical Systems by 105.2% in the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after buying an additional 380,362 shares during the period. Norges Bank purchased a new stake in Inspire Medical Systems in the 4th quarter valued at about $49,116,000. Baillie Gifford & Co. raised its holdings in Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Inspire Medical Systems by 49.5% in the 1st quarter. Bank of New York Mellon Corp now owns 595,577 shares of the company’s stock valued at $127,924,000 after buying an additional 197,097 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. The sale was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Up 2.8 %

Shares of INSP opened at $191.48 on Friday. The stock has a 50 day moving average price of $154.46 and a 200 day moving average price of $180.77. The company has a market capitalization of $5.69 billion, a price-to-earnings ratio of -348.15 and a beta of 1.31. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data 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 negative return on equity of 2.82% and a negative net margin of 2.38%. The company had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. During the same quarter in the previous year, the business earned ($0.41) earnings per share. The firm’s revenue for the quarter was up 29.6% on a year-over-year basis. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 0.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INSP. Truist Financial reduced their price objective on shares of Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a report on Tuesday, July 16th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Bank of America dropped their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Morgan Stanley dropped their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler lifted their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, May 8th. Five analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $219.79.

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.