Northwest & Ethical Investments L.P. Sells 705 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Northwest & Ethical Investments L.P. trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 5.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 11,630 shares of the company’s stock after selling 705 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Inspire Medical Systems were worth $2,455,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Van ECK Associates Corp grew its position in Inspire Medical Systems by 7.5% in the second quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock worth $138,000 after acquiring an additional 72 shares in the last quarter. Amalgamated Bank grew its position in Inspire Medical Systems by 4.1% in the second quarter. Amalgamated Bank now owns 2,005 shares of the company’s stock worth $268,000 after acquiring an additional 79 shares in the last quarter. Signaturefd LLC grew its position in Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Inspire Medical Systems by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 21,193 shares of the company’s stock worth $2,836,000 after acquiring an additional 92 shares in the last quarter. Finally, Gilliland Jeter Wealth Management LLC grew its position in Inspire Medical Systems by 0.8% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 15,508 shares of the company’s stock worth $2,075,000 after acquiring an additional 125 shares in the last quarter. 94.91% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on INSP shares. Truist Financial reiterated a “buy” rating and issued a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Bank of America upgraded Inspire Medical Systems from a “neutral” rating to a “buy” rating and boosted their target price for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. KeyCorp dropped their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Leerink Partners boosted their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research report on Tuesday, September 10th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $233.58.

Insider Buying and Selling

In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 4.10% of the stock is currently owned by insiders.

Inspire Medical Systems Stock Performance

Shares of NYSE INSP opened at $192.67 on Friday. The firm has a market capitalization of $5.77 billion, a price-to-earnings ratio of 180.07 and a beta of 1.36. The stock has a 50 day moving average price of $197.96 and a 200 day moving average price of $176.21. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates 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%. Inspire Medical Systems’s revenue for the quarter was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. Analysts forecast that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Inspire Medical Systems 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.