Signaturefd LLC Buys 85 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Signaturefd LLC increased its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 45.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 270 shares of the company’s stock after buying an additional 85 shares during the period. Signaturefd LLC’s holdings in Inspire Medical Systems were worth $57,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp purchased a new position in shares of Inspire Medical Systems during the 2nd quarter worth approximately $27,000. GAMMA Investing LLC boosted its position in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Quarry LP grew its stake in Inspire Medical Systems by 105.4% in the second quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the period. Daiwa Securities Group Inc. bought a new position in Inspire Medical Systems in the second quarter worth $53,000. Finally, Exchange Traded Concepts LLC purchased a new position in Inspire Medical Systems during the third quarter valued at $100,000. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $199.10 on Wednesday. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40. The business’s fifty day moving average is $200.73 and its 200 day moving average is $181.02. The stock has a market capitalization of $5.92 billion, a PE ratio of -362.00 and a beta of 1.34.

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

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on INSP. Robert W. Baird reduced their target price on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Morgan Stanley dropped their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. KeyCorp reduced 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, Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $219.58.

Insiders Place Their Bets

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

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.