Exchange Traded Concepts LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

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

A number of other hedge funds and other institutional investors have also bought and sold shares of INSP. Van ECK Associates Corp raised its stake in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after buying an additional 72 shares during the period. Amalgamated Bank boosted its position in Inspire Medical Systems by 4.1% during the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after purchasing an additional 79 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock valued at $2,836,000 after purchasing an additional 92 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Inspire Medical Systems by 1.2% in the first quarter. Bessemer Group Inc. now owns 8,475 shares of the company’s stock valued at $1,820,000 after purchasing an additional 100 shares during the period. Finally, Gilliland Jeter Wealth Management LLC lifted its stake in shares of Inspire Medical Systems by 0.8% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after buying an additional 125 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on INSP shares. Leerink Partners increased their price target on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, Robert W. Baird dropped their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $219.58.

Insider Activity

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

Inspire Medical Systems Trading Down 2.9 %

Shares of NYSE INSP opened at $197.64 on Wednesday. The company has a market cap of $5.87 billion, a price-to-earnings ratio of -359.35 and a beta of 1.34. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock has a 50-day moving average price of $200.16 and a two-hundred day moving average price of $182.38.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping 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 business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. During the same period in the prior year, the company earned ($0.41) EPS. The firm’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, sell-side analysts predict that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current 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.