Cetera Investment Advisers Reduces Holdings in Inspire Medical Systems, Inc. $INSP

Cetera Investment Advisers lowered its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 10.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,003 shares of the company’s stock after selling 1,948 shares during the quarter. Cetera Investment Advisers owned about 0.06% of Inspire Medical Systems worth $2,206,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC grew its position in Inspire Medical Systems by 6.0% during the 2nd quarter. SG Americas Securities LLC now owns 4,300 shares of the company’s stock worth $558,000 after purchasing an additional 245 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Inspire Medical Systems by 6.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,572 shares of the company’s stock worth $983,000 after buying an additional 472 shares during the last quarter. Police & Firemen s Retirement System of New Jersey lifted its stake in shares of Inspire Medical Systems by 4.2% during the second quarter. Police & Firemen s Retirement System of New Jersey now owns 11,189 shares of the company’s stock worth $1,452,000 after buying an additional 454 shares during the period. Geode Capital Management LLC grew its holdings in shares of Inspire Medical Systems by 0.3% during the second quarter. Geode Capital Management LLC now owns 512,836 shares of the company’s stock valued at $66,562,000 after buying an additional 1,627 shares during the last quarter. Finally, Beck Bode LLC grew its holdings in shares of Inspire Medical Systems by 11.0% during the second quarter. Beck Bode LLC now owns 40,537 shares of the company’s stock valued at $5,260,000 after buying an additional 4,017 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INSP. Royal Bank Of Canada reduced their target price on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, November 4th. Stifel Nicolaus set a $110.00 price objective on Inspire Medical Systems and gave the stock a “buy” rating in a research note on Monday, November 24th. Leerink Partners decreased their target price on Inspire Medical Systems from $116.00 to $97.00 and set a “market perform” rating for the company in a report on Friday, August 15th. Piper Sandler reiterated an “overweight” rating and issued a $135.00 price target (down previously from $150.00) on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Finally, Lake Street Capital set a $150.00 price target on shares of Inspire Medical Systems and gave the stock a “buy” rating in a research report on Tuesday, August 5th. Ten investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average price target of $134.88.

Inspire Medical Systems Trading Down 1.9%

Shares of NYSE:INSP opened at $124.90 on Friday. Inspire Medical Systems, Inc. has a 12-month low of $70.77 and a 12-month high of $216.01. The business has a 50 day moving average of $84.35 and a two-hundred day moving average of $105.28. The company has a market capitalization of $3.63 billion, a PE ratio of 84.97, a PEG ratio of 13.48 and a beta of 1.14.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. The business had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The business’s revenue was up 10.5% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its board has authorized a share repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

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.