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

Baillie Gifford & Co. lessened its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 8.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,256,005 shares of the company's stock after selling 110,830 shares during the period. Baillie Gifford & Co. owned about 4.19% of Inspire Medical Systems worth $232,838,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of INSP. State Street Corp grew its holdings in shares of Inspire Medical Systems by 78.0% during the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after purchasing an additional 459,990 shares during the last quarter. Point72 Asset Management L.P. grew its holdings in shares of Inspire Medical Systems by 954.4% during the third quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after purchasing an additional 289,075 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Inspire Medical Systems by 798.3% during the third 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. Riverbridge Partners LLC bought a new stake in shares of Inspire Medical Systems during the fourth quarter worth about $26,342,000. Finally, Principal Financial Group Inc. grew its holdings in shares of Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company's stock worth $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler reduced their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a report on Monday, February 10th. KeyCorp restated an "overweight" rating and set a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Wells Fargo & Company reduced their target price on Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a report on Tuesday, February 11th. Truist Financial reduced their target price on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Morgan Stanley reduced their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $228.82.

Inspire Medical Systems Stock Down 0.2 %

INSP traded down $0.36 during trading on Thursday, hitting $178.36. The company's stock had a trading volume of 469,332 shares, compared to its average volume of 615,007. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40. The stock's fifty day moving average price is $188.37 and its 200-day moving average price is $192.80. The firm has a market capitalization of $5.29 billion, a P/E ratio of 103.10, a PEG ratio of 2.89 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping 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%. Equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 25,584 shares of the company's stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares in the company, valued at $1,332,026.50. This represents a 77.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares of the company's stock, valued at $1,777,187.76. This trade represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 26,225 shares of company stock valued at $4,806,530. 4.10% of the stock is owned by insiders.

Inspire Medical Systems 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.