Advisor Group Holdings Inc. Lowers Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Advisor Group Holdings Inc. decreased its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 17.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,782 shares of the company’s stock after selling 2,892 shares during the quarter. Advisor Group Holdings Inc. owned 0.05% of Inspire Medical Systems worth $3,210,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of INSP. Total Clarity Wealth Management Inc. purchased a new position in Inspire Medical Systems in the third quarter worth approximately $28,000. Atticus Wealth Management LLC purchased a new position in Inspire Medical Systems in the third quarter worth approximately $53,000. Harbor Investment Advisory LLC lifted its stake in Inspire Medical Systems by 228.6% in the third quarter. Harbor Investment Advisory LLC now owns 299 shares of the company’s stock worth $70,000 after acquiring an additional 208 shares during the last quarter. Clearstead Advisors LLC purchased a new position in Inspire Medical Systems in the second quarter worth approximately $137,000. Finally, Marshall Wace North America L.P. purchased a new position in Inspire Medical Systems in the first quarter worth approximately $45,000. 92.09% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:INSP opened at $237.54 on Friday. The company has a market capitalization of $6.50 billion, a PE ratio of -135.37 and a beta of 1.63. The company has a current ratio of 7.61, a quick ratio of 7.14 and a debt-to-equity ratio of 0.09. Inspire Medical Systems, Inc. has a twelve month low of $159.18 and a twelve month high of $286.29. The firm has a 50 day simple moving average of $238.31 and a 200-day simple moving average of $228.30.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, November 2nd. The company reported ($0.38) EPS for the quarter, beating analysts’ consensus estimates of ($0.61) by $0.23. The business had revenue of $61.69 million for the quarter, compared to analysts’ expectations of $55.62 million. Inspire Medical Systems had a negative net margin of 23.45% and a negative return on equity of 21.11%. During the same period in the previous year, the company posted ($0.39) EPS. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post -1.97 EPS for the current fiscal year.

INSP has been the subject of a number of recent research reports. Piper Sandler lifted their price target on shares of Inspire Medical Systems from $238.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 3rd. Zacks Investment Research upgraded shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $255.00 price target for the company in a research note on Wednesday. SVB Leerink boosted their price objective on shares of Inspire Medical Systems from $300.00 to $325.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 3rd. Wells Fargo & Company boosted their price objective on shares of Inspire Medical Systems from $250.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 3rd. Finally, Lake Street Capital boosted their price objective on shares of Inspire Medical Systems from $260.00 to $320.00 and gave the stock a “buy” rating in a research report on Wednesday, November 3rd. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of “Buy” and an average target price of $302.00.

In other Inspire Medical Systems news, insider Randy Ban sold 3,532 shares of the business’s stock in a transaction on Wednesday, January 5th. The shares were sold at an average price of $244.67, for a total value of $864,174.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marilyn C. Nelson sold 25,106 shares of the business’s stock in a transaction on Tuesday, December 7th. The shares were sold at an average price of $215.00, for a total transaction of $5,397,790.00. The disclosure for this sale can be found here. Insiders sold a total of 38,398 shares of company stock worth $8,604,364 over the last ninety days. Corporate insiders own 4.70% of the company’s stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.

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Institutional Ownership by Quarter for Inspire Medical Systems (NYSE:INSP)

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