Thrivent Financial for Lutherans Purchases 31,444 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Thrivent Financial for Lutherans lifted its stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 39.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 110,580 shares of the company's stock after purchasing an additional 31,444 shares during the quarter. Thrivent Financial for Lutherans owned 0.37% of Inspire Medical Systems worth $23,337,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in INSP. SouthState Corp bought a new position in shares of Inspire Medical Systems in the second quarter valued at approximately $27,000. Farther Finance Advisors LLC lifted its position in shares of Inspire Medical Systems by 1,158.3% in the 3rd 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 increased 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 during the period. Quarry LP boosted its stake in 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. Finally, Daiwa Securities Group Inc. acquired a new position in Inspire Medical Systems in the second quarter worth about $53,000. Institutional investors and hedge funds own 94.91% of the company's stock.

Analyst Ratings Changes

Several research firms recently commented on INSP. KeyCorp cut their target price 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. Truist Financial reissued a "buy" rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Piper Sandler reaffirmed an "overweight" rating and set a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reissued a "hold" rating and issued a $200.00 target price (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 issued a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and a consensus target price of $233.58.

Insider Activity

In other news, Director Shawn Mccormick sold 800 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares of the company's stock, valued at approximately $5,090,800. This represents a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Price Performance

INSP stock traded up $8.40 during mid-day trading on Wednesday, reaching $184.45. The company had a trading volume of 493,806 shares, compared to its average volume of 599,369. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The company has a market capitalization of $5.53 billion, a price-to-earnings ratio of 174.93 and a beta of 1.36. The stock has a 50 day simple moving average of $200.62 and a two-hundred day simple moving average of $176.11.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm's revenue for the quarter was up 32.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.29) earnings per share. On average, equities analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.