Cambridge Investment Research Advisors Inc. Buys 820 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Cambridge Investment Research Advisors Inc. increased its stake in Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) by 57.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,249 shares of the company’s stock after buying an additional 820 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Inspire Medical Systems were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parkside Financial Bank & Trust purchased a new stake in Inspire Medical Systems during the 1st quarter valued at $37,000. Harvest Fund Management Co. Ltd boosted its stake in Inspire Medical Systems by 323.4% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 271 shares of the company’s stock valued at $68,000 after purchasing an additional 207 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Inspire Medical Systems during the 4th quarter valued at $83,000. Cowa LLC purchased a new stake in Inspire Medical Systems during the 3rd quarter valued at $89,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of Inspire Medical Systems by 127.7% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 756 shares of the company’s stock valued at $134,000 after buying an additional 424 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Inspire Medical Systems Trading Up 0.3 %

INSP opened at $299.88 on Thursday. The firm has a market cap of $8.70 billion, a P/E ratio of -192.23 and a beta of 1.44. Inspire Medical Systems, Inc. has a 12 month low of $157.04 and a 12 month high of $314.36. The stock has a 50-day moving average of $263.40 and a 200 day moving average of $252.25.

Inspire Medical Systems (NYSE:INSP – Get Rating) last posted its earnings results on Tuesday, May 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.70) by $0.17. The company had revenue of $127.90 million during the quarter, compared to the consensus estimate of $120.06 million. Inspire Medical Systems had a negative net margin of 9.35% and a negative return on equity of 10.27%. The firm’s quarterly revenue was up 84.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.61) earnings per share. On average, research analysts forecast that Inspire Medical Systems, Inc. will post -1.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 529 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $293.91, for a total transaction of $155,478.39. Following the completion of the sale, the director now owns 3,671 shares of the company’s stock, valued at approximately $1,078,943.61. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Jerry C. Griffin sold 529 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $293.91, for a total transaction of $155,478.39. Following the completion of the transaction, the director now owns 3,671 shares of the company’s stock, valued at approximately $1,078,943.61. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven Jandrich sold 1,727 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $280.12, for a total transaction of $483,767.24. Following the sale, the vice president now owns 4,371 shares in the company, valued at $1,224,404.52. The disclosure for this sale can be found here. Insiders sold a total of 15,310 shares of company stock worth $4,280,627 in the last 90 days. Insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

INSP has been the topic of several research analyst reports. Piper Sandler increased their price target on Inspire Medical Systems from $305.00 to $315.00 in a report on Wednesday, May 3rd. KeyCorp raised their target price on Inspire Medical Systems from $303.00 to $321.00 in a report on Wednesday, May 3rd. Stifel Nicolaus raised their target price on Inspire Medical Systems from $290.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Mizuho assumed coverage on Inspire Medical Systems in a report on Thursday, April 13th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, 92 Resources reiterated a “maintains” rating on shares of Inspire Medical Systems in a research note on Wednesday, May 3rd. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $312.56.

About Inspire Medical Systems

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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.