Wellington Management Group LLP Has $293.85 Million Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Wellington Management Group LLP cut its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 29.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,392,334 shares of the company's stock after selling 582,718 shares during the quarter. Wellington Management Group LLP owned approximately 4.65% of Inspire Medical Systems worth $293,852,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in Inspire Medical Systems by 78.0% in the third quarter. State Street Corp now owns 1,049,784 shares of the company's stock valued at $221,557,000 after purchasing an additional 459,990 shares during the last quarter. SYM FINANCIAL Corp acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at $273,000. Quarry LP lifted its stake in shares of Inspire Medical Systems by 30.9% during the third quarter. Quarry LP now owns 449 shares of the company's stock worth $95,000 after purchasing an additional 106 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Inspire Medical Systems by 954.4% during the 3rd quarter. Point72 Asset Management L.P. now owns 319,364 shares of the company's stock worth $67,402,000 after acquiring an additional 289,075 shares in the last quarter. Finally, Janus Henderson Group PLC raised its stake in shares of Inspire Medical Systems by 5.8% during the third quarter. Janus Henderson Group PLC now owns 502,609 shares of the company's stock valued at $106,075,000 after purchasing an additional 27,374 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on INSP. Royal Bank of Canada reaffirmed an "outperform" rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Truist Financial restated a "buy" rating and set a $240.00 price objective (up from $217.00) on shares of Inspire Medical Systems in a research note on Monday, September 30th. Robert W. Baird boosted their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an "outperform" rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an "equal weight" rating in a report on Tuesday, November 5th. Finally, Piper Sandler restated an "overweight" rating and set a $260.00 price objective (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $233.58.

Insider Buying and Selling at Inspire Medical Systems

In other news, 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 completion of the transaction, the director now directly owns 23,140 shares in the company, valued at $5,090,800. The trade was a 3.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.10% of the company's stock.

Inspire Medical Systems Price Performance

Shares of INSP traded up $1.43 during trading hours on Friday, reaching $193.03. 297,753 shares of the company's stock traded hands, compared to its average volume of 470,554. The firm has a market capitalization of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31. The business's fifty day simple moving average is $196.36 and its two-hundred day simple moving average is $177.59. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month 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. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million during the quarter, compared to analysts' expectations of $197.59 million. During the same quarter in the prior year, the business earned ($0.29) earnings per share. The company's revenue was up 32.6% on a year-over-year basis. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

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.