Gilliland Jeter Wealth Management LLC Purchases Shares of 16,563 Inspire Medical Systems, Inc. (NYSE:INSP)

Gilliland Jeter Wealth Management LLC acquired a new position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) during the 4th quarter, Holdings Channel.com reports. The fund acquired 16,563 shares of the company’s stock, valued at approximately $3,369,000. Inspire Medical Systems makes up about 1.4% of Gilliland Jeter Wealth Management LLC’s holdings, making the stock its 15th biggest position.

Several other hedge funds also recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. bought a new position in shares of Inspire Medical Systems in the fourth quarter valued at about $27,000. NBC Securities Inc. acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at about $34,000. Arcadia Investment Management Corp MI raised its stake in shares of Inspire Medical Systems by 44.5% in the third quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company’s stock worth $44,000 after acquiring an additional 69 shares during the last quarter. RiverPark Advisors LLC acquired a new position in shares of Inspire Medical Systems during the third quarter worth approximately $44,000. Finally, Headinvest LLC acquired a new position in shares of Inspire Medical Systems during the third quarter worth approximately $48,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 2.8 %

NYSE:INSP traded up $6.44 during trading hours on Friday, hitting $237.45. The stock had a trading volume of 604,213 shares, compared to its average volume of 520,360. The business’s 50 day moving average is $207.54 and its 200-day moving average is $185.82. Inspire Medical Systems, Inc. has a one year low of $123.27 and a one year high of $330.00.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The business had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm’s quarterly revenue was up 39.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.10 EPS. Analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the transaction, the director now owns 9,744 shares in the company, valued at approximately $1,929,799.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO John Rondoni sold 4,387 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $194.40, for a total value of $852,832.80. Following the completion of the transaction, the chief technology officer now directly owns 11,270 shares of the company’s stock, valued at approximately $2,190,888. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of Inspire Medical Systems stock in a transaction dated 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 in the company, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock worth $15,664,278 over the last ninety days. 4.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

INSP has been the subject of several research analyst reports. KeyCorp initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price objective for the company. Stifel Nicolaus restated a “hold” rating and set a $210.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Royal Bank of Canada started coverage on Inspire Medical Systems in a report on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target on the stock. Truist Financial reissued a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

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.