Eagle Asset Management Inc. Has $51.27 Million Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Eagle Asset Management Inc. lifted its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 82.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 260,753 shares of the company's stock after buying an additional 117,819 shares during the quarter. Eagle Asset Management Inc. owned about 0.87% of Inspire Medical Systems worth $51,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Bessemer Group Inc. raised its stake in Inspire Medical Systems by 1.2% during the 1st quarter. Bessemer Group Inc. now owns 8,475 shares of the company's stock valued at $1,820,000 after purchasing an additional 100 shares during the last quarter. 1832 Asset Management L.P. bought a new stake in Inspire Medical Systems in the 1st quarter valued at $1,740,000. Lazard Asset Management LLC increased its holdings in Inspire Medical Systems by 85.0% in the 1st quarter. Lazard Asset Management LLC now owns 63,196 shares of the company's stock valued at $13,573,000 after buying an additional 29,039 shares during the period. BOKF NA increased its holdings in Inspire Medical Systems by 149.0% in the 1st quarter. BOKF NA now owns 12,260 shares of the company's stock valued at $2,570,000 after buying an additional 7,337 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Inspire Medical Systems by 51.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock valued at $98,754,000 after buying an additional 156,893 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Piper Sandler reissued an "overweight" rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. KeyCorp lowered their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an "overweight" rating on the stock in a report on Wednesday, August 7th. Leerink Partners upped their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a "market perform" rating in a report on Tuesday, September 10th. Robert W. Baird upped their target price on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the stock an "outperform" rating in a report on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a "hold" rating and issued a $200.00 target price (up previously from $170.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $233.58.

Insider Buying and Selling

In other news, Director Shawn Mccormick sold 800 shares of the firm's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the completion of the transaction, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This trade represents a 3.34 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 4.10% of the stock is owned by company insiders.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded up $2.54 during trading hours on Friday, reaching $188.73. 471,995 shares of the company's stock traded hands, compared to its average volume of 591,730. The firm's 50 day moving average is $199.53 and its 200-day moving average is $175.81. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market capitalization of $5.66 billion, a price-to-earnings ratio of 176.38 and a beta of 1.36.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The business had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same period in the prior year, the business earned ($0.29) EPS. Inspire Medical Systems's revenue for the quarter was up 32.6% compared to the same quarter last year. Analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current 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.