Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc lowered its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 21.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,923 shares of the company’s stock after selling 522 shares during the period. Prospera Financial Services Inc’s holdings in Inspire Medical Systems were worth $406,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farther Finance Advisors LLC boosted its position in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. SouthState Corp acquired a new stake in shares of Inspire Medical Systems in the second quarter worth $27,000. Signaturefd LLC raised its holdings in shares of Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares during the last quarter. Finally, Quarry LP lifted its position in Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have weighed in on INSP. Wells Fargo & Company increased their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Leerink Partners upped their price objective 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. Truist Financial reaffirmed a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Finally, Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $233.58.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction 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 represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Up 1.4 %

Shares of NYSE INSP opened at $188.73 on Monday. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.36. The company’s 50-day simple moving average is $199.53 and its 200-day simple moving average is $175.40. 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 posted its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS 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 company had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. During the same period in the previous year, the business earned ($0.29) EPS. Inspire Medical Systems’s quarterly revenue was up 32.6% on a year-over-year basis. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Inspire Medical Systems 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.