256,792 Shares in Inspire Medical Systems, Inc. (NYSE:INSP) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. purchased a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 256,792 shares of the company's stock, valued at approximately $47,604,000. Raymond James Financial Inc. owned about 0.86% of Inspire Medical Systems at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Wasatch Advisors LP raised its holdings in Inspire Medical Systems by 1.6% in the 3rd quarter. Wasatch Advisors LP now owns 1,323,470 shares of the company's stock valued at $279,318,000 after acquiring an additional 20,481 shares in the last quarter. State Street Corp raised its holdings in Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after acquiring an additional 459,990 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after acquiring an additional 27,374 shares in the last quarter. Geode Capital Management LLC raised its holdings in Inspire Medical Systems by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock valued at $102,102,000 after acquiring an additional 3,128 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new position in Inspire Medical Systems in the 4th quarter valued at $80,419,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INSP shares. Piper Sandler dropped their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Morgan Stanley decreased 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. Stifel Nicolaus decreased 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. KeyCorp reiterated an "overweight" rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Finally, Truist Financial decreased 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. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $228.82.

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Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO John Rondoni sold 583 shares of Inspire Medical Systems stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the transaction, the chief technology officer now directly owns 10,424 shares in the company, valued at $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock worth $4,806,530 in the last 90 days. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Stock Down 3.8 %

Shares of INSP stock opened at $172.60 on Wednesday. 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 twelve month low of $123.00 and a twelve month high of $257.40. The stock's fifty day simple moving average is $186.71 and its 200 day simple moving average is $192.61.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share 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%. As a group, equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

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.

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