Baird Financial Group Inc. Trims Holdings in Inspire Medical Systems, Inc. (NYSE:INSP)

Baird Financial Group Inc. lessened its holdings in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,391 shares of the company's stock after selling 3,996 shares during the quarter. Baird Financial Group Inc. owned about 0.09% of Inspire Medical Systems worth $5,263,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of INSP. Vanguard Group Inc. grew its position in Inspire Medical Systems by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,270,357 shares of the company's stock valued at $606,259,000 after purchasing an additional 38,219 shares during the last quarter. Invesco Ltd. grew its holdings in shares of Inspire Medical Systems by 14.3% during the fourth quarter. Invesco Ltd. now owns 793,080 shares of the company's stock valued at $147,021,000 after buying an additional 99,030 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Inspire Medical Systems by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 486,341 shares of the company's stock valued at $90,188,000 after buying an additional 2,687 shares during the last quarter. TimesSquare Capital Management LLC purchased a new stake in shares of Inspire Medical Systems during the fourth quarter valued at approximately $80,419,000. Finally, Bamco Inc. NY grew its holdings in shares of Inspire Medical Systems by 2.5% during the fourth quarter. Bamco Inc. NY now owns 347,800 shares of the company's stock valued at $64,475,000 after buying an additional 8,500 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Stock Performance

Shares of Inspire Medical Systems stock traded up $3.42 during trading hours on Tuesday, hitting $159.86. The company's stock had a trading volume of 621,307 shares, compared to its average volume of 564,197. The business has a 50 day moving average price of $157.31 and a two-hundred day moving average price of $177.82. Inspire Medical Systems, Inc. has a 12-month low of $123.00 and a 12-month high of $225.00. The company has a market cap of $4.71 billion, a PE ratio of 92.41, a PEG ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its earnings results on Monday, May 5th. The company reported $0.10 EPS for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The firm's revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.34) earnings per share. As a group, research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current year.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 360 shares of the stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director now owns 24,046 shares of the company's stock, valued at approximately $3,847,360. This represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Randy Ban sold 25,584 shares of the stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the completion of the sale, the insider now directly owns 7,259 shares in the company, valued at approximately $1,332,026.50. This represents a 77.90% decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp cut their target price on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Piper Sandler dropped their price objective on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating on the stock in a research report on Monday, February 10th. Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Truist Financial dropped their price target on shares of Inspire Medical Systems from $250.00 to $235.00 and set a "buy" rating on the stock in a report on Tuesday, February 11th. Finally, Robert W. Baird raised their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $211.91.

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.