Gilliland Jeter Wealth Management LLC Takes $3.37 Million Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Gilliland Jeter Wealth Management LLC purchased a new stake in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 16,563 shares of the company's stock, valued at approximately $3,369,000. Inspire Medical Systems makes up 1.4% of Gilliland Jeter Wealth Management LLC's investment portfolio, making the stock its 15th largest holding. Gilliland Jeter Wealth Management LLC owned approximately 0.06% of Inspire Medical Systems as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new position in Inspire Medical Systems in the fourth quarter worth approximately $27,000. NBC Securities Inc. acquired a new position in Inspire Medical Systems during the third quarter worth $34,000. RiverPark Advisors LLC acquired a new position in Inspire Medical Systems during the third quarter worth $44,000. Arcadia Investment Management Corp MI lifted its stake in Inspire Medical Systems by 44.5% during the third quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company's stock worth $44,000 after purchasing an additional 69 shares in the last quarter. Finally, Headinvest LLC acquired a new position in Inspire Medical Systems during the third quarter worth $48,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Truist Financial restated a "buy" rating and set a $280.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Stifel Nicolaus reiterated a "hold" rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Jefferies Financial Group started coverage on Inspire Medical Systems in a research note on Friday, January 19th. They issued a "buy" rating and a $245.00 price objective on the stock. Morgan Stanley started coverage on Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 price objective on the stock. Finally, KeyCorp began coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $272.20.

Inspire Medical Systems Trading Up 2.8 %

Shares of NYSE INSP traded up $6.44 during midday trading on Friday, reaching $237.45. 604,213 shares of the company were exchanged, compared to its average volume of 520,360. Inspire Medical Systems, Inc. has a 1 year low of $123.27 and a 1 year high of $330.00. The stock has a market cap of $7.19 billion, a P/E ratio of -320.88 and a beta of 1.37. The stock has a fifty day simple moving average of $207.54 and a 200 day simple moving average of $185.97.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The firm had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period in the previous year, the firm posted $0.10 EPS. The company's quarterly revenue was up 39.6% compared to the same quarter last year. As a group, analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company's stock, valued at approximately $1,929,799.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the sale, the chief executive officer now directly owns 63,658 shares of the company's stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock worth $15,664,278 in the last ninety days. Insiders own 4.10% of the company's stock.

About Inspire Medical Systems

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.