Inspire Medical Systems, Inc. (NYSE:INSP) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 18.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,382 shares of the company’s stock after purchasing an additional 533 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Inspire Medical Systems were worth $688,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Altshuler Shaham Ltd purchased a new stake in shares of Inspire Medical Systems during the fourth quarter worth approximately $29,000. NBC Securities Inc. purchased a new position in Inspire Medical Systems in the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust purchased a new position in Inspire Medical Systems in the first quarter valued at approximately $37,000. Meeder Asset Management Inc. increased its stake in Inspire Medical Systems by 7,850.0% in the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock valued at $40,000 after purchasing an additional 157 shares during the last quarter. Finally, Arcadia Investment Management Corp MI increased its stake in Inspire Medical Systems by 44.5% in the third quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company’s stock valued at $44,000 after purchasing an additional 69 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Analysts Set New Price Targets

INSP has been the topic of several recent analyst reports. Truist Financial reiterated a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Stifel Nicolaus reiterated a “hold” rating and issued a $210.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Mizuho reiterated a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 price target on the stock. Finally, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $271.29.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $243.51 on Thursday. The stock has a fifty day moving average price of $202.06 and a 200 day moving average price of $183.36. Inspire Medical Systems, Inc. has a 1-year low of $123.27 and a 1-year high of $330.00. The company has a market cap of $7.38 billion, a PE ratio of -329.07 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period last year, the company earned $0.10 earnings per share. The company’s revenue for the quarter was up 39.6% on a year-over-year basis. Analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 554 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares in the company, valued at $551,308.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the sale, the director now owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The disclosure for this sale can be found here. Insiders sold a total of 61,371 shares of company stock valued at $12,213,828 over the last three months. 4.10% of the stock is currently owned by company insiders.

About Inspire Medical Systems

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.