Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Prospera Financial Services Inc

Prospera Financial Services Inc trimmed its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 21.3% during the third quarter, Holdings Channel.com reports. The fund owned 1,923 shares of the company’s stock after selling 522 shares during the period. Prospera Financial Services Inc’s holdings in Inspire Medical Systems were worth $406,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its position in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. GAMMA Investing LLC grew its stake in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after buying an additional 151 shares in the last quarter. SouthState Corp purchased a new stake in shares of Inspire Medical Systems in the 2nd quarter valued at $27,000. Signaturefd LLC lifted its stake in Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter. Finally, Quarry LP boosted its holdings in Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have issued reports on INSP. Robert W. Baird boosted their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Piper Sandler reaffirmed 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 reissued a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $200.00 price objective (up from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, Inspire Medical Systems has a consensus rating of “Moderate Buy” and a consensus target price of $233.58.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the firm’s 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 transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $188.73 on Monday. The business has a 50-day moving average of $199.53 and a two-hundred day moving average of $175.40. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.36. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

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