Wealth Enhancement Advisory Services LLC Increases Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Wealth Enhancement Advisory Services LLC lifted its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 37.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,760 shares of the company's stock after acquiring an additional 2,960 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Inspire Medical Systems were worth $1,995,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Mutual of America Capital Management LLC lifted its stake in Inspire Medical Systems by 1.2% during the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock worth $842,000 after purchasing an additional 55 shares during the last quarter. True Wealth Design LLC boosted its position in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after buying an additional 55 shares during the period. Captrust Financial Advisors grew its stake in shares of Inspire Medical Systems by 2.0% during the fourth quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock valued at $562,000 after buying an additional 59 shares during the last quarter. MML Investors Services LLC increased its holdings in shares of Inspire Medical Systems by 0.9% in the fourth quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after buying an additional 67 shares during the period. Finally, Mariner LLC lifted its stake in shares of Inspire Medical Systems by 1.6% in the 4th quarter. Mariner LLC now owns 4,837 shares of the company's stock valued at $897,000 after acquiring an additional 77 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 4.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on INSP. Piper Sandler reduced their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Royal Bank of Canada decreased their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Truist Financial lowered their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Morgan Stanley cut their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Inspire Medical Systems Stock Up 0.4%

Shares of NYSE:INSP traded up $0.48 on Monday, hitting $136.50. The company had a trading volume of 459,728 shares, compared to its average volume of 561,983. The firm's 50-day simple moving average is $149.10 and its two-hundred day simple moving average is $171.65. The firm has a market capitalization of $4.03 billion, a price-to-earnings ratio of 78.90, a P/E/G ratio of 2.86 and a beta of 1.28. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Inspire Medical Systems's quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the business posted ($0.34) earnings per share. Equities research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS 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.