Beacon Investment Advisory Services Inc. Sells 5,910 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Beacon Investment Advisory Services Inc. lessened its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 74.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,062 shares of the company's stock after selling 5,910 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Inspire Medical Systems were worth $382,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. True Wealth Design LLC acquired a new position in Inspire Medical Systems during the third quarter valued at approximately $30,000. Farther Finance Advisors LLC increased 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 buying an additional 139 shares in the last quarter. GAMMA Investing LLC increased its holdings 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 worth $38,000 after buying an additional 151 shares in the last quarter. Signaturefd LLC increased its holdings in shares of Inspire Medical Systems by 45.9% during the third quarter. Signaturefd LLC now owns 270 shares of the company's stock worth $57,000 after buying an additional 85 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company's stock worth $46,000 after buying an additional 176 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Wall Street Analyst Weigh In

INSP has been the subject of several research analyst reports. Wells Fargo & Company upped their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler restated an "overweight" rating and issued a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday. Finally, Truist Financial restated a "buy" rating and issued a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Three 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, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $231.45.

Inspire Medical Systems Stock Up 0.6 %

INSP traded up $1.18 during trading on Friday, reaching $188.77. 324,710 shares of the stock traded hands, compared to its average volume of 700,354. The stock has a market capitalization of $5.66 billion, a PE ratio of 176.42 and a beta of 1.32. The stock's 50-day moving average is $189.00 and its 200 day moving average is $186.06. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analysts' expectations of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business's revenue was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.29) EPS. As a group, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 1.35 EPS for the current 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.