Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 10,652 shares of the company’s stock after selling 116 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Inspire Medical Systems were worth $2,248,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of Inspire Medical Systems by 89.4% during the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock worth $493,000 after purchasing an additional 1,084 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Inspire Medical Systems by 32.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock worth $329,000 after acquiring an additional 378 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Inspire Medical Systems by 9.5% in the first quarter. SG Americas Securities LLC now owns 2,907 shares of the company’s stock valued at $624,000 after acquiring an additional 251 shares in the last quarter. Russell Investments Group Ltd. increased its stake in shares of Inspire Medical Systems by 98.9% during the first quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock worth $6,859,000 after acquiring an additional 15,877 shares during the period. Finally, Intech Investment Management LLC purchased a new position in Inspire Medical Systems during the first quarter worth about $2,147,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 0.1 %

NYSE:INSP opened at $172.70 on Friday. The company has a market capitalization of $5.18 billion, a P/E ratio of 161.40 and a beta of 1.36. The firm has a 50-day moving average price of $202.07 and a two-hundred day moving average price of $178.08. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The business had revenue of $203.20 million during the quarter, compared to analysts’ expectations of $197.59 million. During the same period last year, the company posted ($0.29) EPS. The company’s revenue was up 32.6% on a year-over-year basis. On average, equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSP has been the topic of several recent analyst reports. Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Robert W. Baird upped their price objective on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a report on Tuesday, November 5th. Piper Sandler reiterated an “overweight” rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Stifel Nicolaus restated a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Wells Fargo & Company increased their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.75.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 4.10% 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.