Raymond James Financial Inc. Takes Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Raymond James Financial Inc. acquired a new stake in Inspire Medical Systems, Inc. (NYSE:INSP) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 256,792 shares of the company’s stock, valued at approximately $47,604,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Horizon Advisors Inc. lifted its stake in shares of Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after purchasing an additional 124 shares during the period. True Wealth Design LLC acquired a new position in shares of Inspire Medical Systems in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC lifted its stake in shares of Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Inspire Medical Systems by 178.9% in the 4th quarter. Smartleaf Asset Management LLC now owns 357 shares of the company’s stock valued at $66,000 after purchasing an additional 229 shares during the period. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after purchasing an additional 100 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,225 shares of company stock valued at $4,806,530 over the last three months. Corporate insiders own 4.10% of the company’s stock.

Inspire Medical Systems Stock Performance

Shares of INSP opened at $172.60 on Wednesday. The stock has a 50 day moving average price of $186.71 and a two-hundred day moving average price of $192.61. The firm has a market capitalization of $5.12 billion, a P/E ratio of 99.77, a P/E/G ratio of 2.86 and a beta of 1.48. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INSP. Wells Fargo & Company dropped their price objective on Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Morgan Stanley dropped their price target on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 11th. Truist Financial dropped their price target on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Finally, Piper Sandler dropped their price target on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.82.

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.