Inspire Medical Systems, Inc. (NYSE:INSP) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 21.8% during the fourth quarter, Holdings Channel reports. The firm owned 326,299 shares of the company’s stock after acquiring an additional 58,447 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Inspire Medical Systems were worth $61,709,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in Inspire Medical Systems by 1.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,879 shares of the company’s stock valued at $1,461,000 after acquiring an additional 79 shares during the period. Signaturefd LLC increased its position in Inspire Medical Systems by 45.9% in the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock valued at $57,000 after acquiring an additional 85 shares during the period. Nisa Investment Advisors LLC increased its position in Inspire Medical Systems by 37.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 368 shares of the company’s stock valued at $68,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System increased its position in Inspire Medical Systems by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company’s stock valued at $2,688,000 after acquiring an additional 100 shares during the period. Finally, Quarry LP increased its position in Inspire Medical Systems by 30.9% in the 3rd quarter. Quarry LP now owns 449 shares of the company’s stock valued at $95,000 after acquiring an additional 106 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

Insider Activity at Inspire Medical Systems

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

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $187.23 on Friday. The business’s 50 day simple moving average is $189.20 and its 200-day simple moving average is $191.36. The firm has a market capitalization of $5.61 billion, a price-to-earnings ratio of 174.98 and a beta of 1.32. Inspire Medical Systems, Inc. has a 12 month low of $123.00 and a 12 month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on INSP. Royal Bank of Canada restated an “outperform” rating and issued a $260.00 price target on shares of Inspire Medical Systems in a research report on Tuesday. Bank of America raised Inspire Medical Systems from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $220.00 to $255.00 in a report on Wednesday, November 20th. Morgan Stanley lowered their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Truist Financial lowered their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.