Baillie Gifford & Co. Decreases Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Baillie Gifford & Co. trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 4.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,366,835 shares of the company's stock after selling 60,000 shares during the quarter. Baillie Gifford & Co. owned approximately 4.58% of Inspire Medical Systems worth $288,471,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its position in Inspire Medical Systems by 798.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company's stock worth $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Bank of New York Mellon Corp grew its position in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company's stock worth $105,433,000 after purchasing an additional 192,238 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company's stock valued at $98,754,000 after acquiring an additional 156,893 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of Inspire Medical Systems by 152.7% in the second quarter. AQR Capital Management LLC now owns 231,845 shares of the company's stock valued at $31,028,000 after acquiring an additional 140,090 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock valued at $29,777,000 after acquiring an additional 137,483 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Randy Ban sold 4,861 shares of the business's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares of the company's stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Randy Ban sold 4,861 shares of the company's stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares of the company's stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of the company's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now directly owns 23,140 shares of the company's stock, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 over the last 90 days. Insiders own 4.10% of the company's stock.

Inspire Medical Systems Price Performance

INSP traded down $14.57 during midday trading on Tuesday, reaching $187.47. 338,989 shares of the company's stock were exchanged, compared to its average volume of 599,219. The stock has a market capitalization of $5.62 billion, a PE ratio of 188.82 and a beta of 1.36. The business's 50-day moving average price is $203.06 and its 200 day moving average price is $178.92. Inspire Medical Systems, Inc. has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.06 by $0.54. The company had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm's quarterly revenue was up 32.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.29) earnings per share. As a group, analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on INSP shares. Robert W. Baird lifted their target price on shares of 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 reaffirmed an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Truist Financial reaffirmed a "buy" rating and issued a $240.00 target price (up previously from $217.00) on shares of Inspire Medical Systems in a report on Monday, September 30th. Wells Fargo & Company lifted their target price on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an "equal weight" rating in a report on Tuesday, November 5th. Finally, Leerink Partners lifted their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the company a "market perform" rating in a report on Tuesday, September 10th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $227.75.

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.