Northeast Financial Consultants Inc Purchases Shares of 1,300 Inspire Medical Systems, Inc. (NYSE:INSP)

Northeast Financial Consultants Inc acquired a new position in Inspire Medical Systems, Inc. (NYSE:INSP) during the third quarter, HoldingsChannel reports. The firm acquired 1,300 shares of the company’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors have also modified their holdings of INSP. SouthState Corp acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $27,000. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC raised its stake in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after acquiring an additional 139 shares during the period. GAMMA Investing LLC raised its stake in shares of Inspire Medical Systems by 559.3% in the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the period. Finally, Quarry LP lifted its holdings in shares of Inspire Medical Systems by 105.4% during the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 0.7 %

Shares of NYSE:INSP opened at $193.03 on Friday. The firm has a market cap of $5.79 billion, a PE ratio of 180.40 and a beta of 1.31. The company has a fifty day simple moving average of $196.36 and a 200 day simple moving average of $177.59. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Monday, November 4th. The company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The company’s revenue was up 32.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.29) EPS. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on INSP shares. Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Wells Fargo & Company raised their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a report on Tuesday, November 5th. Leerink Partners upped their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus reissued 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $233.58.

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.