First Trust Advisors LP Makes New $18.84 Million Investment in Inspire Medical Systems, Inc. (NYSE:INSP)

First Trust Advisors LP purchased a new position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 101,614 shares of the company's stock, valued at approximately $18,837,000. First Trust Advisors LP owned about 0.34% of Inspire Medical Systems as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on INSP. Robert W. Baird cut their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. KeyCorp cut their price target on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating for the company in a research note on Tuesday, February 11th. Royal Bank of Canada cut their target price on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Piper Sandler decreased their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a research note on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $218.90.

Insider Transactions at Inspire Medical Systems

In other news, insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the sale, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO John Rondoni sold 583 shares of the business's stock in a transaction on 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 of the company's stock, valued at $1,777,187.76. This 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.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP traded down $1.26 during trading hours on Friday, hitting $156.65. The company's stock had a trading volume of 112,853 shares, compared to its average volume of 515,859. The company has a market capitalization of $4.66 billion, a price-to-earnings ratio of 90.44, a P/E/G ratio of 2.86 and a beta of 1.39. The firm's fifty day moving average price is $161.14 and its 200 day moving average price is $180.05. 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 - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. On average, equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems Company 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.