Allspring Global Investments Holdings LLC Has $35.78 Million Stake in Inspire Medical Systems, Inc. (NYSE:INSP)

Allspring Global Investments Holdings LLC lowered its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 24.2% during the first quarter, Holdings Channel.com reports. The institutional investor owned 166,590 shares of the company’s stock after selling 53,245 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Inspire Medical Systems were worth $35,782,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after acquiring an additional 1,212,175 shares during the last quarter. Wellington Management Group LLP increased its stake in Inspire Medical Systems by 46.4% in the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares in the last quarter. Frontier Capital Management Co. LLC raised its holdings in Inspire Medical Systems by 105.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after purchasing an additional 380,362 shares during the period. Jennison Associates LLC boosted its position in shares of Inspire Medical Systems by 648.2% during the fourth quarter. Jennison Associates LLC now owns 304,886 shares of the company’s stock worth $62,023,000 after purchasing an additional 264,139 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Inspire Medical Systems in the 4th quarter valued at $49,116,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the sale, the chief financial officer now owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Analyst Ratings Changes

INSP has been the topic of several recent analyst reports. Piper Sandler lifted their target price on Inspire Medical Systems from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, May 8th. Truist Financial reiterated a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Mizuho reissued a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, March 27th. Royal Bank of Canada began coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price target on the stock. Finally, Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.20.

Inspire Medical Systems Stock Down 0.2 %

INSP stock opened at $133.94 on Friday. Inspire Medical Systems, Inc. has a twelve month low of $123.27 and a twelve month high of $330.00. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -243.53 and a beta of 1.31. The business has a 50 day moving average price of $171.31 and a two-hundred day moving average price of $191.38.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The firm’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same period in the previous year, the company earned ($0.53) earnings per share. On average, equities research analysts anticipate that Inspire Medical Systems, Inc. will post 0.16 EPS for the current fiscal year.

Inspire Medical Systems Company 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.