Raymond James Financial Inc. Sells 20,296 Shares of Inspire Medical Systems, Inc. $INSP

Key Points

• Raymond James Financial Inc. reduced its stake in Inspire Medical Systems by 7.9%, selling 20,296 shares, leaving it with 236,496 shares valued at approximately $37.67 million.
• Institutional investors hold 94.91% of Inspire Medical Systems' stock, indicating a high level of institutional interest.
• Inspire Medical reported $0.45 EPS for its recent quarter, beating estimates, with a 10.8% year-over-year revenue increase.

Raymond James Financial Inc. reduced its holdings in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 7.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 236,496 shares of the company's stock after selling 20,296 shares during the quarter. Raymond James Financial Inc. owned approximately 0.80% of Inspire Medical Systems worth $37,669,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Inspire Medical Systems by 64.4% during the 1st quarter. American Century Companies Inc. now owns 18,432 shares of the company's stock worth $2,936,000 after acquiring an additional 7,218 shares during the period. Oak Ridge Investments LLC lifted its holdings in Inspire Medical Systems by 4.8% during the 1st quarter. Oak Ridge Investments LLC now owns 26,090 shares of the company's stock worth $4,156,000 after purchasing an additional 1,186 shares during the last quarter. Fox Hill Wealth Management acquired a new stake in Inspire Medical Systems during the 1st quarter worth approximately $752,000. Russell Investments Group Ltd. lifted its holdings in Inspire Medical Systems by 26.0% during the 1st quarter. Russell Investments Group Ltd. now owns 22,841 shares of the company's stock worth $3,638,000 after purchasing an additional 4,715 shares during the last quarter. Finally, HighTower Advisors LLC lifted its holdings in Inspire Medical Systems by 35.3% during the 1st quarter. HighTower Advisors LLC now owns 2,910 shares of the company's stock worth $464,000 after purchasing an additional 760 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Leerink Partners dropped their price target on Inspire Medical Systems from $116.00 to $97.00 and set a "market perform" rating for the company in a report on Friday, August 15th. Royal Bank Of Canada dropped their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Wall Street Zen cut Inspire Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Morgan Stanley dropped their price target on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Finally, Lake Street Capital set a $150.00 price target on Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday, August 5th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $165.62.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $95.7980 on Friday. The stock's fifty day moving average price is $117.55 and its two-hundred day moving average price is $144.80. Inspire Medical Systems, Inc. has a one year low of $73.92 and a one year high of $225.00. The firm has a market cap of $2.83 billion, a PE ratio of 55.37, a price-to-earnings-growth ratio of 2.86 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings data on Monday, August 4th. The company reported $0.45 EPS for the quarter, beating the consensus estimate of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to the consensus estimate of $214.50 million. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.38%. The company's revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has authorized a share buyback plan on Monday, August 11th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its stock is undervalued.

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.

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