Inspire Medical Systems, Inc. (NYSE:INSP) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 82.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 244,388 shares of the company's stock after selling 1,147,946 shares during the quarter. Wellington Management Group LLP owned approximately 0.82% of Inspire Medical Systems worth $45,305,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after purchasing an additional 38,219 shares during the period. State Street Corp grew its position in shares of Inspire Medical Systems by 78.0% in the 3rd quarter. State Street Corp now owns 1,049,784 shares of the company's stock worth $221,557,000 after buying an additional 459,990 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Inspire Medical Systems by 0.7% in the 3rd quarter. Geode Capital Management LLC now owns 483,654 shares of the company's stock worth $102,102,000 after buying an additional 3,128 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $80,419,000. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Inspire Medical Systems by 21.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock worth $61,709,000 after buying an additional 58,447 shares during the last quarter. Institutional investors own 94.91% of the company's stock.

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Insider Activity at Inspire Medical Systems

In related news, insider Randy Ban sold 25,584 shares of the business's stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the sale, the insider now owns 7,259 shares of the company's stock, valued at approximately $1,332,026.50. The trade was a 77.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the sale, the chief technology officer now directly owns 10,424 shares of the company's stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.30% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of INSP traded down $12.21 during trading hours on Thursday, hitting $141.60. The stock had a trading volume of 125,966 shares, compared to its average volume of 590,785. The firm has a 50-day moving average price of $171.63 and a 200 day moving average price of $186.14. Inspire Medical Systems, Inc. has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm has a market capitalization of $4.21 billion, a price-to-earnings ratio of 82.22, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. As a group, analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on INSP shares. Truist Financial cut their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday, February 11th. Wells Fargo & Company dropped their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a "hold" rating on the stock in a research report on Tuesday, January 21st. Robert W. Baird dropped their target price on shares of Inspire Medical Systems from $252.00 to $248.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Finally, KeyCorp reissued an "overweight" rating and set a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $226.70.

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.