First Trust Advisors LP decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 3.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 59,179 shares of the company’s stock after selling 2,084 shares during the period. First Trust Advisors LP’s holdings in Inspire Medical Systems were worth $7,637,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Harvest Fund Management Co. Ltd purchased a new stake in Inspire Medical Systems during the 3rd quarter worth $221,000. Mackay Shields LLC acquired a new position in Inspire Medical Systems during the 3rd quarter worth $891,000. WINTON GROUP Ltd acquired a new position in Inspire Medical Systems during the 3rd quarter worth $2,064,000. Keybank National Association OH acquired a new position in Inspire Medical Systems during the 3rd quarter worth $244,000. Finally, Concorde Asset Management LLC acquired a new position in Inspire Medical Systems during the 3rd quarter worth $1,208,000.

In other news, CEO Timothy P. Herbert sold 80,000 shares of the stock in a transaction on Thursday, November 5th. The shares were sold at an average price of $163.74, for a total value of $13,099,200.00. Following the completion of the transaction, the chief executive officer now owns 65,845 shares in the company, valued at approximately $10,781,460.30. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard Buchholz sold 3,000 shares of the stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $122.84, for a total transaction of $368,520.00. Following the completion of the transaction, the chief financial officer now owns 72,951 shares of the company’s stock, valued at approximately $8,961,300.84. The disclosure for this sale can be found here. Insiders sold 166,000 shares of company stock valued at $24,103,230 over the last 90 days. 6.60% of the stock is owned by corporate insiders.

Shares of INSP opened at $179.54 on Friday. The company’s 50 day moving average price is $141.50 and its 200 day moving average price is $109.74. Inspire Medical Systems, Inc. has a 52 week low of $40.53 and a 52 week high of $184.39. The company has a market capitalization of $4.84 billion, a PE ratio of -77.39 and a beta of 1.37. The company has a debt-to-equity ratio of 0.11, a quick ratio of 19.72 and a current ratio of 14.67.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Monday, November 2nd. The company reported ($0.39) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.71) by $0.32. The company had revenue of $35.84 million during the quarter, compared to the consensus estimate of $30.40 million. Inspire Medical Systems had a negative net margin of 61.07% and a negative return on equity of 32.23%. The company’s revenue for the quarter was up 71.8% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.34) earnings per share. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post -2.37 earnings per share for the current fiscal year.

Several research analysts have weighed in on INSP shares. Piper Sandler raised their price objective on shares of Inspire Medical Systems from $137.00 to $147.00 and gave the stock an “overweight” rating in a report on Tuesday, November 3rd. SVB Leerink boosted their target price on shares of Inspire Medical Systems from $150.00 to $170.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Zacks Investment Research lowered shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Thursday, October 15th. Oppenheimer raised shares of Inspire Medical Systems from an “underperform” rating to a “market perform” rating in a research note on Tuesday, November 3rd. Finally, Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Tuesday, November 3rd. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $125.83.

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.

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

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