Cerity Partners LLC Acquires 10,910 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Cerity Partners LLC grew its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 409.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,576 shares of the company's stock after purchasing an additional 10,910 shares during the quarter. Cerity Partners LLC's holdings in Inspire Medical Systems were worth $2,865,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. SouthState Corp purchased a new position in Inspire Medical Systems in the 2nd quarter valued at approximately $27,000. Farther Finance Advisors LLC boosted its holdings in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock worth $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC grew its position 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 purchasing an additional 151 shares in the last quarter. Quarry LP raised its stake in shares of 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 purchasing an additional 176 shares during the period. Finally, Daiwa Securities Group Inc. purchased a new stake in Inspire Medical Systems during the 2nd quarter worth about $53,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Down 0.6 %

Shares of NYSE INSP traded down $1.24 during trading hours on Friday, reaching $192.76. 261,447 shares of the stock traded hands, compared to its average volume of 605,606. The company's 50-day simple moving average is $197.96 and its two-hundred day simple moving average is $176.45. The company has a market capitalization of $5.78 billion, a P/E ratio of 180.15 and a beta of 1.36. 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 - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same period last year, the firm posted ($0.29) earnings per share. The business's revenue was up 32.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

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 directly 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Leerink Partners lifted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reiterated an "overweight" rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a research report on Tuesday, November 5th. Finally, KeyCorp lowered their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and a consensus target price of $233.58.

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.