Farther Finance Advisors LLC Buys 139 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Farther Finance Advisors LLC lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1,158.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 151 shares of the company’s stock after buying an additional 139 shares during the quarter. Farther Finance Advisors LLC’s holdings in Inspire Medical Systems were worth $32,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BNP Paribas Financial Markets grew its stake in Inspire Medical Systems by 89.4% during the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock worth $493,000 after buying an additional 1,084 shares in the last quarter. Janney Montgomery Scott LLC lifted its stake in Inspire Medical Systems by 32.8% during the first quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock worth $329,000 after purchasing an additional 378 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of Inspire Medical Systems by 9.5% in the 1st quarter. SG Americas Securities LLC now owns 2,907 shares of the company’s stock valued at $624,000 after purchasing an additional 251 shares in the last quarter. Swiss National Bank increased its stake in shares of Inspire Medical Systems by 0.9% in the 1st quarter. Swiss National Bank now owns 58,300 shares of the company’s stock valued at $12,522,000 after purchasing an additional 500 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in shares of Inspire Medical Systems by 98.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock worth $6,859,000 after buying an additional 15,877 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $172.93 on Friday. 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 $203.04 and its 200-day moving average is $178.61. The firm has a market cap of $5.18 billion, a P/E ratio of 170.17 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share 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 during the quarter, compared to analyst estimates of $197.59 million. During the same period last year, the company posted ($0.29) EPS. The business’s quarterly revenue was up 32.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

INSP has been the subject of several research analyst reports. Truist Financial reissued 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. Stifel Nicolaus restated a “hold” rating and issued a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. KeyCorp dropped 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. Wells Fargo & Company upped their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 5th. Finally, Piper Sandler restated an “overweight” rating and set a $260.00 price target (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $227.75.

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.