Cerity Partners LLC Sells 5,403 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Cerity Partners LLC trimmed its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 45.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,359 shares of the company's stock after selling 5,403 shares during the period. Cerity Partners LLC's holdings in Inspire Medical Systems were worth $1,013,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after buying an additional 38,219 shares during the period. Dragoneer Investment Group LLC bought a new stake in shares of Inspire Medical Systems in the 4th quarter worth approximately $161,486,000. Invesco Ltd. raised its holdings in shares of Inspire Medical Systems by 14.3% during the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after acquiring an additional 99,030 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Inspire Medical Systems by 12.9% during the fourth quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock valued at $105,173,000 after acquiring an additional 64,703 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Inspire Medical Systems by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock worth $90,188,000 after acquiring an additional 2,687 shares during the period. Institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Trading Up 3.4%

NYSE INSP opened at $129.43 on Wednesday. The stock has a market cap of $3.82 billion, a PE ratio of 59.65, a P/E/G ratio of 1.91 and a beta of 1.25. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $225.00. The stock has a fifty day simple moving average of $136.24 and a 200-day simple moving average of $159.24.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The business had revenue of $201.32 million during the quarter, compared to analysts' expectations of $194.89 million. During the same period in the prior year, the firm posted ($0.34) EPS. The business's quarterly revenue was up 22.7% compared to the same quarter last year. Research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Analysts Set New Price Targets

INSP has been the subject of several recent research reports. Wall Street Zen upgraded shares of Inspire Medical Systems from a "hold" rating to a "buy" rating in a report on Saturday, July 12th. Royal Bank Of Canada dropped their price target on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Wells Fargo & Company cut their target price on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. KeyCorp dropped their price objective on shares of Inspire Medical Systems from $216.00 to $197.00 and set an "overweight" rating for the company in a research note on Tuesday. Finally, Morgan Stanley lowered their price target on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research report on Tuesday, July 15th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Inspire Medical Systems has an average rating of "Moderate Buy" and an average target price of $208.55.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director directly owned 24,046 shares of the company's stock, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.30% 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.

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