Truist Financial Corp Acquires 2,677 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Truist Financial Corp boosted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 34.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,385 shares of the company’s stock after buying an additional 2,677 shares during the quarter. Truist Financial Corp’s holdings in Inspire Medical Systems were worth $2,419,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc boosted its stake in shares of Inspire Medical Systems by 14.6% during the 3rd quarter. NEXT Financial Group Inc now owns 881 shares of the company’s stock worth $205,000 after acquiring an additional 112 shares during the period. AtonRa Partners raised its stake in Inspire Medical Systems by 1.7% in the 2nd quarter. AtonRa Partners now owns 7,326 shares of the company’s stock valued at $1,416,000 after acquiring an additional 120 shares during the period. Total Clarity Wealth Management Inc. bought a new stake in Inspire Medical Systems in the 3rd quarter valued at $28,000. Weiss Multi Strategy Advisers LLC raised its stake in Inspire Medical Systems by 3.7% in the 2nd quarter. Weiss Multi Strategy Advisers LLC now owns 5,206 shares of the company’s stock valued at $1,006,000 after acquiring an additional 185 shares during the period. Finally, Virginia Retirement Systems ET AL raised its stake in Inspire Medical Systems by 12.5% in the 2nd quarter. Virginia Retirement Systems ET AL now owns 1,800 shares of the company’s stock valued at $348,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 92.09% of the company’s stock.

A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Inspire Medical Systems from a “hold” rating to a “buy” rating and set a $255.00 price target on the stock in a research note on Wednesday. Piper Sandler increased their price target on Inspire Medical Systems from $238.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 3rd. SVB Leerink increased their price target on Inspire Medical Systems from $300.00 to $325.00 and gave the company an “outperform” rating in a research note on Wednesday, November 3rd. Lake Street Capital increased their price target on Inspire Medical Systems from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday, November 3rd. Finally, Wells Fargo & Company increased their price objective on Inspire Medical Systems from $250.00 to $305.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 3rd. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Inspire Medical Systems has an average rating of “Buy” and a consensus price target of $302.00.

INSP stock opened at $237.54 on Friday. The company has a debt-to-equity ratio of 0.09, a current ratio of 7.61 and a quick ratio of 7.14. The stock has a market capitalization of $6.50 billion, a price-to-earnings ratio of -136.52 and a beta of 1.63. The business’s fifty day moving average price is $238.31 and its two-hundred day moving average price is $228.30. Inspire Medical Systems, Inc. has a fifty-two week low of $159.18 and a fifty-two week high of $286.29.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, November 2nd. The company reported ($0.38) earnings per share for the quarter, topping the consensus estimate of ($0.61) by $0.23. The firm had revenue of $61.69 million for the quarter, compared to analysts’ expectations of $55.62 million. Inspire Medical Systems had a negative return on equity of 21.11% and a negative net margin of 23.45%. During the same quarter last year, the business earned ($0.39) EPS. Research analysts expect that Inspire Medical Systems, Inc. will post -1.97 EPS for the current year.

In other news, insider Randy Ban sold 3,532 shares of the stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $244.67, for a total transaction of $864,174.44. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Marilyn C. Nelson sold 25,106 shares of the stock in a transaction on Tuesday, December 7th. The stock was sold at an average price of $215.00, for a total value of $5,397,790.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 38,398 shares of company stock worth $8,604,364. 4.70% of the stock is currently owned by insiders.

About Inspire Medical Systems

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.

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

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