Franklin Resources Inc. Sells 29,434 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Franklin Resources Inc. trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,894 shares of the company's stock after selling 29,434 shares during the quarter. Franklin Resources Inc. owned 0.68% of Inspire Medical Systems worth $42,912,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of INSP. Synovus Financial Corp lifted its position in shares of Inspire Medical Systems by 7.5% during the 3rd quarter. Synovus Financial Corp now owns 3,502 shares of the company's stock worth $739,000 after buying an additional 244 shares during the period. Tidal Investments LLC bought a new position in shares of Inspire Medical Systems during the third quarter valued at $320,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Inspire Medical Systems by 20.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 49,178 shares of the company's stock valued at $10,379,000 after purchasing an additional 8,240 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Inspire Medical Systems by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock worth $102,102,000 after purchasing an additional 3,128 shares in the last quarter. Finally, M&T Bank Corp lifted its holdings in Inspire Medical Systems by 53.1% during the 3rd quarter. M&T Bank Corp now owns 3,228 shares of the company's stock valued at $681,000 after purchasing an additional 1,120 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Trading Down 2.0 %

Shares of NYSE:INSP traded down $3.74 during trading on Wednesday, hitting $186.97. 722,684 shares of the company's stock were exchanged, compared to its average volume of 586,288. The firm has a market cap of $5.60 billion, a P/E ratio of 174.74 and a beta of 1.31. The firm has a 50-day moving average price of $193.22 and a two-hundred day moving average price of $179.35. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

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

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on INSP shares. Bank of America raised shares of Inspire Medical Systems from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 price target on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Piper Sandler reissued an "overweight" rating and issued a $260.00 price objective (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Wells Fargo & Company increased their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Leerink Partners lifted their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, Inspire Medical Systems currently has an average rating of "Moderate Buy" and an average price target of $233.58.

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.