True Wealth Design LLC Makes New $30,000 Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

True Wealth Design LLC purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 141 shares of the company’s stock, valued at approximately $30,000.

Other institutional investors have also modified their holdings of the company. SouthState Corp acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $27,000. Farther Finance Advisors LLC raised its holdings in shares of Inspire Medical Systems by 1,158.3% during the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock worth $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC lifted its position in 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 in the last quarter. Quarry LP lifted its position in 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 acquiring an additional 176 shares in the last quarter. Finally, Daiwa Securities Group Inc. acquired a new position in Inspire Medical Systems in the 2nd quarter worth $53,000. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP opened at $192.76 on Monday. The company has a market cap of $5.78 billion, a PE ratio of 180.15 and a beta of 1.36. The firm has a 50-day moving average of $197.96 and a 200-day moving average of $176.45. 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 posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 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 analysts’ expectations of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.29) earnings per share. Analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. KeyCorp cut their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price objective on shares of 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. Finally, Leerink Partners raised their target price on shares of 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.58.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 800 shares of the firm’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 in the company, valued at approximately $5,090,800. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.10% of the stock is owned by insiders.

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.