Allspring Global Investments Holdings LLC Acquires 58,447 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Allspring Global Investments Holdings LLC raised its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 21.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 326,299 shares of the company's stock after purchasing an additional 58,447 shares during the quarter. Allspring Global Investments Holdings LLC owned 1.09% of Inspire Medical Systems worth $61,709,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. True Wealth Design LLC acquired a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at about $30,000. Farther Finance Advisors LLC increased its position in shares of Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company's stock valued at $32,000 after acquiring an additional 139 shares during the last quarter. GAMMA Investing LLC increased its position in shares of Inspire Medical Systems by 559.3% in the third quarter. GAMMA Investing LLC now owns 178 shares of the company's stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. Signaturefd LLC increased its position in shares of Inspire Medical Systems by 45.9% in the third quarter. Signaturefd LLC now owns 270 shares of the company's stock valued at $57,000 after acquiring an additional 85 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of Inspire Medical Systems by 37.3% in the fourth quarter. Nisa Investment Advisors LLC now owns 368 shares of the company's stock valued at $68,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company's stock.

Inspire Medical Systems Trading Down 1.3 %

Shares of NYSE:INSP traded down $2.42 during trading on Friday, reaching $184.73. 680,965 shares of the stock were exchanged, compared to its average volume of 564,408. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40. The firm has a market cap of $5.54 billion, a PE ratio of 172.65 and a beta of 1.32. The stock has a 50-day moving average price of $189.11 and a 200-day moving average price of $191.33.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was 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 in the company, valued at $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on INSP shares. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday. Piper Sandler lowered their target price on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. KeyCorp reaffirmed an "overweight" rating and issued a $234.00 target price (down previously from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Morgan Stanley lowered their target price on Inspire Medical Systems from $230.00 to $220.00 and set an "overweight" rating on the stock in a research report on Tuesday. Finally, Truist Financial lowered their price target on Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of "Moderate Buy" and an average price target of $228.82.

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.