Cetera Investment Advisers Purchases 2,231 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Cetera Investment Advisers increased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,951 shares of the company’s stock after purchasing an additional 2,231 shares during the quarter. Cetera Investment Advisers owned 0.06% of Inspire Medical Systems worth $3,018,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of INSP. Huntington National Bank raised its stake in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after acquiring an additional 121 shares in the last quarter. Parallel Advisors LLC raised its stake in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after acquiring an additional 164 shares in the last quarter. True Wealth Design LLC raised its stake in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock worth $36,000 after acquiring an additional 55 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock worth $61,000 after acquiring an additional 125 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company’s stock worth $91,000 after acquiring an additional 411 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the company. Piper Sandler lowered their target price on Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating for the company in a research note on Tuesday. Wells Fargo & Company lowered their target price on Inspire Medical Systems from $174.00 to $101.00 and set an “equal weight” rating for the company in a research note on Tuesday. Morgan Stanley lowered their price objective on Inspire Medical Systems from $200.00 to $182.00 and set an “overweight” rating for the company in a research note on Tuesday, July 15th. KeyCorp downgraded Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a research note on Tuesday. Finally, Lake Street Capital lowered their price objective on Inspire Medical Systems from $270.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $173.31.

Inspire Medical Systems Stock Down 33.7%

Shares of INSP stock opened at $86.10 on Wednesday. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 49.77, a price-to-earnings-growth ratio of 1.99 and a beta of 1.22. Inspire Medical Systems, Inc. has a 52 week low of $73.92 and a 52 week high of $225.00. The firm has a 50 day moving average of $130.39 and a 200-day moving average of $153.83.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.39% and a net margin of 6.17%. The company had revenue of $217.09 million for the quarter, compared to analysts’ expectations of $214.50 million. During the same period last year, the business earned $0.32 EPS. Inspire Medical Systems’s quarterly revenue was up 10.8% compared to the same quarter last year. Analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Inspire Medical Systems Company 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.