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

Farther Finance Advisors LLC grew its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 1,158.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 151 shares of the company’s stock after purchasing an additional 139 shares during the quarter. Farther Finance Advisors LLC’s holdings in Inspire Medical Systems were worth $32,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in Inspire Medical Systems in the second quarter valued at approximately $27,000. GAMMA Investing LLC raised its stake in Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after purchasing an additional 151 shares during the period. Quarry LP increased its stake in Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after acquiring an additional 176 shares during the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of Inspire Medical Systems during the second quarter valued at about $53,000. Finally, Signaturefd LLC boosted its position 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 buying an additional 85 shares during the period. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

NYSE:INSP opened at $172.93 on Friday. The company has a fifty day moving average price of $203.04 and a 200 day moving average price of $178.61. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The stock 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 earnings results 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 business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter last year, the company earned ($0.29) EPS. Inspire Medical Systems’s revenue was up 32.6% on a year-over-year basis. As a group, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Insiders Place Their Bets

In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

INSP has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “hold” rating and set a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Wells Fargo & Company raised 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. Truist Financial reissued a “buy” rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. KeyCorp dropped their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $227.75.

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.