Franklin Resources Inc. Grows Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Franklin Resources Inc. raised its holdings in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.7% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 221,560 shares of the company’s stock after buying an additional 17,666 shares during the quarter. Franklin Resources Inc.’s holdings in Inspire Medical Systems were worth $41,073,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its holdings in Inspire Medical Systems by 99.7% in the third quarter. BNP Paribas Financial Markets now owns 4,711 shares of the company’s stock valued at $994,000 after acquiring an additional 2,352 shares in the last quarter. Captrust Financial Advisors purchased a new stake in shares of Inspire Medical Systems in the 3rd quarter worth about $628,000. Verition Fund Management LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter valued at about $757,000. Holocene Advisors LP purchased a new position in shares of Inspire Medical Systems during the third quarter valued at about $1,345,000. Finally, Quarry LP raised its stake in Inspire Medical Systems by 30.9% in the third quarter. Quarry LP now owns 449 shares of the company’s stock worth $95,000 after buying an additional 106 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INSP. Morgan Stanley cut their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 11th. Robert W. Baird reduced their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. KeyCorp reissued an “overweight” rating and set a $234.00 price objective (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Stifel Nicolaus reduced their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating on the stock in a research report on Tuesday, January 21st. Finally, Piper Sandler lowered their price target on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $226.70.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock opened at $141.49 on Friday. The company has a 50-day simple moving average of $175.94 and a two-hundred day simple moving average of $188.34. The stock has a market capitalization of $4.21 billion, a PE ratio of 81.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, equities research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,225 shares of company stock valued at $4,806,530 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

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.