Baillie Gifford & Co. Sells 60,000 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Baillie Gifford & Co. decreased its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP) by 4.2% in the 3rd quarter, Holdings Channel reports. The fund owned 1,366,835 shares of the company’s stock after selling 60,000 shares during the quarter. Baillie Gifford & Co.’s holdings in Inspire Medical Systems were worth $288,471,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in INSP. BNP Paribas Financial Markets raised its position in shares of Inspire Medical Systems by 89.4% in the first quarter. BNP Paribas Financial Markets now owns 2,297 shares of the company’s stock valued at $493,000 after purchasing an additional 1,084 shares during the period. Janney Montgomery Scott LLC raised its holdings in Inspire Medical Systems by 32.8% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,532 shares of the company’s stock valued at $329,000 after acquiring an additional 378 shares during the period. SG Americas Securities LLC lifted its position in shares of Inspire Medical Systems by 9.5% during the first quarter. SG Americas Securities LLC now owns 2,907 shares of the company’s stock worth $624,000 after acquiring an additional 251 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Inspire Medical Systems by 61.1% in the first quarter. Illinois Municipal Retirement Fund now owns 3,639 shares of the company’s stock worth $782,000 after acquiring an additional 1,380 shares during the period. Finally, Swiss National Bank grew its position in shares of Inspire Medical Systems by 0.9% in the first quarter. Swiss National Bank now owns 58,300 shares of the company’s stock valued at $12,522,000 after purchasing an additional 500 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors.

Inspire Medical Systems Stock Up 2.8 %

Shares of NYSE:INSP opened at $202.04 on Tuesday. The company’s fifty day moving average is $203.06 and its 200 day moving average is $178.92. Inspire Medical Systems, Inc. has a 52 week low of $123.00 and a 52 week high of $257.40. The stock has a market cap of $6.06 billion, a PE ratio of 188.82 and a beta of 1.36.

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

Analyst Ratings Changes

A number of brokerages recently issued reports on INSP. Leerink Partners increased their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Truist Financial restated a “buy” rating and set a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Morgan Stanley reduced their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $260.00 target price (up from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $227.75.

Insider Activity

In related news, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Shawn Mccormick sold 800 shares of the business’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety 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 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.