Franklin Resources Inc. Sells 29,434 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Franklin Resources Inc. decreased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 12.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,894 shares of the company’s stock after selling 29,434 shares during the quarter. Franklin Resources Inc.’s holdings in Inspire Medical Systems were worth $42,912,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Synovus Financial Corp raised its holdings in Inspire Medical Systems by 7.5% in the third quarter. Synovus Financial Corp now owns 3,502 shares of the company’s stock worth $739,000 after purchasing an additional 244 shares in the last quarter. Tidal Investments LLC bought a new position in Inspire Medical Systems in the third quarter worth $320,000. Teachers Retirement System of The State of Kentucky raised its holdings in Inspire Medical Systems by 20.1% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 49,178 shares of the company’s stock worth $10,379,000 after purchasing an additional 8,240 shares in the last quarter. Geode Capital Management LLC raised its holdings in Inspire Medical Systems by 0.7% in the third quarter. Geode Capital Management LLC now owns 483,654 shares of the company’s stock worth $102,102,000 after purchasing an additional 3,128 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in Inspire Medical Systems by 53.1% in the third quarter. M&T Bank Corp now owns 3,228 shares of the company’s stock worth $681,000 after purchasing an additional 1,120 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Robert W. Baird raised their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Stifel Nicolaus reaffirmed a “hold” rating and issued a $200.00 price objective (up previously from $170.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their target price on Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average price target of $233.58.

Inspire Medical Systems Trading Up 1.0 %

Shares of INSP opened at $190.71 on Wednesday. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The stock’s 50 day moving average is $193.62 and its two-hundred day moving average is $179.30. The firm has a market cap of $5.72 billion, a P/E ratio of 178.23 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.06 by $0.54. The company had revenue of $203.20 million for the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Inspire Medical Systems’s quarterly revenue was up 32.6% compared to the same quarter last year. During the same period last year, the company earned ($0.29) earnings per share. Equities research analysts forecast that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.