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

Wellington Management Group LLP reduced its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 29.5% during the third quarter, Holdings Channel.com reports. The fund owned 1,392,334 shares of the company’s stock after selling 582,718 shares during the quarter. Wellington Management Group LLP’s holdings in Inspire Medical Systems were worth $293,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the company. State Street Corp grew its holdings in 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 acquiring an additional 459,990 shares during the period. SYM FINANCIAL Corp purchased a new position in Inspire Medical Systems in the 3rd quarter worth about $273,000. Quarry LP increased its stake in Inspire Medical Systems by 30.9% in the 3rd 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. increased its stake in Inspire Medical Systems by 954.4% in the 3rd 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 in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Inspire Medical Systems by 5.8% in the 3rd quarter. Janus Henderson Group PLC now owns 502,609 shares of the company’s stock worth $106,075,000 after purchasing an additional 27,374 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Shawn Mccormick sold 800 shares of the business’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 value of $176,000.00. Following the completion of the sale, the director now directly owns 23,140 shares in the company, valued at approximately $5,090,800. The trade was a 3.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is owned by corporate insiders.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $193.03 on Friday. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of 180.40 and a beta of 1.31. Inspire Medical Systems, Inc. has a 52-week low of $123.00 and a 52-week high of $257.40. The stock has a 50-day simple moving average of $196.36 and a 200-day simple moving average of $177.59.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 4th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.54. The business had revenue of $203.20 million during the quarter, compared to analyst estimates of $197.59 million. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm’s revenue was up 32.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.29) EPS. As a group, equities research analysts predict that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INSP shares. Wells Fargo & Company lifted their price target on Inspire Medical Systems from $187.00 to $198.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 5th. Robert W. Baird lifted their price target on Inspire Medical Systems from $240.00 to $252.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $220.00 to $255.00 in a research note on Wednesday, November 20th. Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (up previously from $170.00) 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $233.58.

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.