Wealth Enhancement Advisory Services LLC Grows Stock Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Wealth Enhancement Advisory Services LLC increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,760 shares of the company's stock after purchasing an additional 2,960 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Inspire Medical Systems were worth $1,995,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after purchasing an additional 124 shares during the period. Huntington National Bank boosted its position in Inspire Medical Systems by 228.3% in the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock valued at $32,000 after buying an additional 121 shares during the period. True Wealth Design LLC boosted its position in Inspire Medical Systems by 39.0% in the 4th 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. Harbour Investments Inc. boosted its position in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after buying an additional 99 shares during the period. Finally, AlphaQuest LLC boosted its position in Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after buying an additional 291 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Trading Down 0.1%

Shares of INSP traded down $0.11 during mid-day trading on Friday, hitting $135.76. The company's stock had a trading volume of 576,280 shares, compared to its average volume of 561,778. The company's 50-day moving average is $149.10 and its 200-day moving average is $171.84. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $225.00. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 78.47, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted 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 firm 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 revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.34) EPS. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 360 shares of the business'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 transaction of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 4.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on INSP. Robert W. Baird boosted their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research report on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Piper Sandler lowered their price objective on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research report on Monday, February 10th. KeyCorp lowered their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $211.91.

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.