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

Janney Montgomery Scott LLC lifted its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 248.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 made changes to their positions in INSP. State Street Corp lifted its stake in shares of Inspire Medical Systems by 78.0% in the third 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. increased 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 worth $67,402,000 after purchasing an additional 289,075 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Inspire Medical Systems by 798.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock worth $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Inspire Medical Systems by 3,812.6% in the 3rd quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Inspire Medical Systems by 82.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 260,753 shares of the company’s stock worth $51,269,000 after acquiring an additional 117,819 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp reaffirmed an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus dropped their price target on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research note on Tuesday, January 21st. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and raised their target price for the stock from $220.00 to $255.00 in a report on Wednesday, November 20th. Robert W. Baird increased their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems presently has an average rating of “Moderate Buy” and an average target price of $231.45.

Inspire Medical Systems Trading Down 5.7 %

NYSE INSP opened at $181.14 on Friday. The stock has a fifty day simple moving average of $190.19 and a 200-day simple moving average of $189.74. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock has a market cap of $5.43 billion, a PE ratio of 169.29 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping 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 business had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the firm posted ($0.29) earnings per share. The company’s quarterly revenue was up 32.6% compared to the same quarter last year. Research analysts predict that Inspire Medical Systems, Inc. will post 1.35 EPS for the current year.

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.