Cetera Investment Advisers Boosts Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Cetera Investment Advisers boosted its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 497.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,512 shares of the company’s stock after acquiring an additional 14,582 shares during the quarter. Cetera Investment Advisers’ holdings in Inspire Medical Systems were worth $2,344,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of INSP. Wellington Management Group LLP boosted its position in shares of Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after purchasing an additional 453,294 shares in the last quarter. Baillie Gifford & Co. increased its holdings in Inspire Medical Systems by 19.3% in the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after acquiring an additional 192,238 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after acquiring an additional 156,893 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Inspire Medical Systems by 152.7% in the 2nd quarter. AQR Capital Management LLC now owns 231,845 shares of the company’s stock worth $31,028,000 after acquiring an additional 140,090 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the company. Truist Financial reiterated a “buy” rating and set a $240.00 target price (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. KeyCorp lowered their price objective on shares of 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. Morgan Stanley reduced their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Leerink Partners raised their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 10th. Finally, Robert W. Baird reduced their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $216.62.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692 shares of company stock valued at $1,099,207. Company insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of INSP stock opened at $210.83 on Friday. The firm’s 50-day simple moving average is $197.04 and its 200-day simple moving average is $183.21. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40. The firm has a market cap of $6.29 billion, a P/E ratio of 1,171.28 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. Inspire Medical Systems’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) earnings per share. Analysts expect that Inspire Medical Systems, Inc. will post 0.75 earnings per share for the current fiscal 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.