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

HighTower Advisors LLC trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSPFree Report) by 26.2% during the third quarter, according to its most recent 13F filing 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SouthState Corp bought a new position in shares of Inspire Medical Systems during the second quarter worth about $27,000. True Wealth Design LLC bought a new position in Inspire Medical Systems during the 3rd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its holdings in Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after purchasing an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its position 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 worth $38,000 after purchasing an additional 151 shares during the period. Finally, Quarry LP boosted its stake in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after purchasing an additional 176 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Down 0.1 %

Shares of Inspire Medical Systems stock opened at $187.58 on Tuesday. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The business has a 50 day moving average price of $192.36 and a 200-day moving average price of $180.08. The company has a market cap of $5.62 billion, a PE ratio of 175.31 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSPGet Free Report) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. The business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.29) EPS. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Wall Street Analyst Weigh In

INSP has been the subject of a number of recent analyst reports. Stifel Nicolaus reiterated a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reissued an “overweight” rating and set a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Truist Financial reiterated a “buy” rating and set a $240.00 price objective (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

Read Our Latest Report on INSP

About Inspire Medical Systems

(Free Report)

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.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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