HighTower Advisors LLC Sells 519 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

HighTower Advisors LLC reduced its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 26.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,464 shares of the company’s stock after selling 519 shares during the quarter. HighTower Advisors LLC’s holdings in Inspire Medical Systems were worth $309,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in INSP. Bank of New York Mellon Corp increased its stake in shares of Inspire Medical Systems by 32.3% in the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Inspire Medical Systems by 13.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,764 shares of the company’s stock worth $905,000 after buying an additional 806 shares during the period. Azzad Asset Management Inc. ADV grew its stake in Inspire Medical Systems by 61.2% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 10,956 shares of the company’s stock valued at $1,466,000 after buying an additional 4,160 shares in the last quarter. Van ECK Associates Corp raised its holdings in Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after acquiring an additional 72 shares during the period. Finally, nVerses Capital LLC purchased a new stake in shares of Inspire Medical Systems during the second quarter worth $214,000. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

INSP has been the subject of several recent research reports. Leerink Partners lifted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Wells Fargo & Company lifted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price target for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Stifel Nicolaus restated a “hold” rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $187.58 on Tuesday. The company’s fifty day moving average price is $192.36 and its 200-day moving average price is $180.08. The firm has a market capitalization of $5.62 billion, a price-to-earnings ratio of 175.31 and a beta of 1.31. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $203.20 million for the quarter, compared to analysts’ expectations of $197.59 million. During the same quarter in the prior year, the firm earned ($0.29) earnings per share. The firm’s revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

About Inspire Medical Systems

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.