Allspring Global Investments Holdings LLC Has $56.53 Million Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Allspring Global Investments Holdings LLC boosted its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 798.3% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 267,852 shares of the company’s stock after buying an additional 238,034 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.90% of Inspire Medical Systems worth $56,530,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Baillie Gifford & Co. grew its stake in Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares during the last quarter. Wasatch Advisors LP grew its position in shares of Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after purchasing an additional 5,522 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares in the last quarter. William Blair Investment Management LLC grew its position in shares of Inspire Medical Systems by 1.8% during the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock worth $103,104,000 after purchasing an additional 13,602 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity

In other news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were 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 owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at $576,208.80. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the stock in a transaction 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 sale, the director now owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,692 shares of company stock valued at $1,099,207. Insiders own 4.10% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $203.33 on Tuesday. The company has a market cap of $6.04 billion, a price-to-earnings ratio of -369.69 and a beta of 1.34. The firm has a 50 day simple moving average of $200.05 and a 200 day simple moving average of $182.56. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.41) EPS. As a group, analysts expect that Inspire Medical Systems, Inc. will post 0.75 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on INSP. Royal Bank of Canada restated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Leerink Partners increased their target price on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Morgan Stanley decreased their target price on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research report on Monday, July 15th. KeyCorp decreased their target price on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Finally, Robert W. Baird cut their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $219.58.

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.