Baillie Gifford & Co. Sells 110,830 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Baillie Gifford & Co. lessened its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 8.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 1,256,005 shares of the company’s stock after selling 110,830 shares during the period. Baillie Gifford & Co.’s holdings in Inspire Medical Systems were worth $232,838,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $1,929,000. Thrivent Financial for Lutherans raised its holdings in shares of Inspire Medical Systems by 39.7% during the third quarter. Thrivent Financial for Lutherans now owns 110,580 shares of the company’s stock valued at $23,337,000 after purchasing an additional 31,444 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Inspire Medical Systems by 798.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 267,852 shares of the company’s stock valued at $56,530,000 after purchasing an additional 238,034 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Inspire Medical Systems during the fourth quarter valued at approximately $313,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Inspire Medical Systems by 3,812.6% during the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock valued at $29,777,000 after purchasing an additional 137,483 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Price Performance

Shares of NYSE INSP opened at $184.73 on Monday. The firm has a fifty day moving average price of $188.94 and a 200-day moving average price of $192.05. The stock has a market cap of $5.54 billion, a PE ratio of 172.65 and a beta of 1.32. Inspire Medical Systems, Inc. has a 1 year low of $123.00 and a 1 year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced 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 net margin of 4.37% and a return on equity of 5.30%. On average, research analysts expect that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In related news, CTO John Rondoni sold 583 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company’s stock.

Wall Street Analyst Weigh In

INSP has been the subject of several research reports. Truist Financial decreased their price objective on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, February 11th. Stifel Nicolaus reduced their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their target price for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $234.00 target price (down from $236.00) on shares of Inspire Medical Systems in a report on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.82.

About Inspire Medical Systems

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.