Raymond James Financial Inc. Invests $47.60 Million in Inspire Medical Systems, Inc. (NYSE:INSP)

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

Several other institutional investors also recently modified their holdings of the business. First Horizon Advisors Inc. boosted its stake in Inspire Medical Systems by 885.7% during the fourth quarter. First Horizon Advisors Inc. now owns 138 shares of the company's stock valued at $26,000 after buying an additional 124 shares during the last quarter. Huntington National Bank boosted its stake in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after buying an additional 121 shares during the last quarter. Harbour Investments Inc. increased its holdings in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after acquiring an additional 99 shares in the last quarter. AlphaQuest LLC raised its holdings in Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company's stock valued at $55,000 after acquiring an additional 291 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its stake in Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company's stock worth $61,000 after acquiring an additional 125 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Up 2.4 %

INSP stock traded up $3.51 during mid-day trading on Friday, hitting $150.42. The company had a trading volume of 605,382 shares, compared to its average volume of 585,186. The company has a 50-day moving average price of $166.16 and a 200 day moving average price of $183.05. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $257.40. The company has a market capitalization of $4.48 billion, a price-to-earnings ratio of 86.95, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate 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, analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the business's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO John Rondoni sold 583 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 4.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on INSP shares. Piper Sandler dropped their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. Truist Financial decreased their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating for the company in a report on Tuesday, February 11th. Robert W. Baird dropped their target price on Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a report on Tuesday, February 11th. Royal Bank of Canada cut their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Stifel Nicolaus reduced their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating for the company in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $222.20.

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.