Wealthspire Advisors LLC Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Wealthspire Advisors LLC purchased a new stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,170 shares of the company’s stock, valued at approximately $402,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSP. First Horizon Advisors Inc. lifted its holdings in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the period. True Wealth Design LLC bought a new position in shares of Inspire Medical Systems during the 3rd quarter valued at $30,000. Farther Finance Advisors LLC raised its holdings in Inspire Medical Systems by 1,158.3% in 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 period. Signaturefd LLC raised its holdings in Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after purchasing an additional 85 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock worth $68,000 after purchasing an additional 100 shares during the period. 94.91% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on INSP shares. Wells Fargo & Company decreased their target price on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a report on Tuesday, February 11th. Truist Financial decreased their target price on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday, February 11th. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a report on Tuesday, January 21st. Morgan Stanley decreased their target price on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $228.82.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock worth $4,806,530 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Up 6.4 %

NYSE:INSP opened at $196.66 on Thursday. The stock has a market cap of $5.83 billion, a PE ratio of 113.68, a P/E/G ratio of 2.86 and a beta of 1.32. The business’s 50-day simple moving average is $187.95 and its two-hundred day simple moving average is $193.23. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems Company 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.