Franklin Resources Inc. Increases Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Franklin Resources Inc. raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 8.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,560 shares of the company's stock after purchasing an additional 17,666 shares during the quarter. Franklin Resources Inc. owned 0.74% of Inspire Medical Systems worth $41,073,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. First Horizon Advisors Inc. increased its holdings in Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock worth $26,000 after buying an additional 124 shares during the last quarter. Harbour Investments Inc. lifted its stake in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock valued at $37,000 after purchasing an additional 99 shares during the last quarter. AlphaQuest LLC grew its holdings in Inspire Medical Systems by 7,275.0% during the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after purchasing an additional 291 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of Inspire Medical Systems by 178.9% in the fourth quarter. Smartleaf Asset Management LLC now owns 357 shares of the company's stock valued at $66,000 after buying an additional 229 shares during the period. Finally, Nisa Investment Advisors LLC grew its stake in shares of Inspire Medical Systems by 37.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock worth $68,000 after acquiring an additional 100 shares during the period. 94.91% of the stock is currently owned by institutional investors.

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Wall Street Analysts Forecast Growth

INSP has been the subject of several recent research reports. Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, February 11th. Truist Financial lowered their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Wells Fargo & Company cut their price target on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a report on Tuesday, February 11th. KeyCorp reiterated an "overweight" rating and set a $234.00 price objective (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Finally, Stifel Nicolaus cut their target price on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $226.70.

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of Inspire Medical Systems stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the transaction, the insider now directly owns 7,259 shares of the company's stock, valued at $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO John Rondoni sold 583 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at approximately $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. 2.30% of the stock is owned by insiders.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $12.01 during mid-day trading on Thursday, hitting $141.80. 144,585 shares of the company traded hands, compared to its average volume of 590,861. The stock has a fifty day moving average price of $171.63 and a 200-day moving average price of $186.14. The stock has a market cap of $4.22 billion, a price-to-earnings ratio of 81.94, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Sell-side analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Inspire Medical Systems Company Profile

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.