Janney Montgomery Scott LLC Buys 3,427 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Janney Montgomery Scott LLC raised its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 248.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 4,806 shares of the company's stock after purchasing an additional 3,427 shares during the period. Janney Montgomery Scott LLC's holdings in Inspire Medical Systems were worth $891,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in INSP. State Street Corp lifted its position in shares of Inspire Medical Systems by 78.0% during the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after buying an additional 459,990 shares in the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Inspire Medical Systems by 954.4% in the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock valued at $67,402,000 after acquiring an additional 289,075 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock valued at $56,530,000 after acquiring an additional 238,034 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock worth $29,777,000 after acquiring an additional 137,483 shares during the period. Finally, Eagle Asset Management Inc. boosted its position in Inspire Medical Systems by 82.4% in the third quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company's stock worth $51,269,000 after purchasing an additional 117,819 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock traded down $1.19 during mid-day trading on Monday, reaching $180.96. The company's stock had a trading volume of 683,848 shares, compared to its average volume of 590,310. The company has a market capitalization of $5.42 billion, a P/E ratio of 169.12 and a beta of 1.32. The firm's fifty day moving average price is $189.72 and its two-hundred day moving average price is $190.66. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. On average, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on INSP. Robert W. Baird raised their target price on Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a report on Tuesday, January 21st. Piper Sandler dropped their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research note on Monday. Wells Fargo & Company raised their price target on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus target price of $229.00.

Inspire Medical Systems 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.