Allspring Global Investments Holdings LLC Sells 19,559 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Allspring Global Investments Holdings LLC lowered its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6.0% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 306,740 shares of the company's stock after selling 19,559 shares during the period. Allspring Global Investments Holdings LLC owned about 1.03% of Inspire Medical Systems worth $48,459,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Huntington National Bank raised its position in Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after purchasing an additional 121 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after buying an additional 55 shares during the period. Harbour Investments Inc. raised its position in shares of Inspire Medical Systems by 101.0% during the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after acquiring an additional 99 shares during the last quarter. Parallel Advisors LLC lifted its stake in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after acquiring an additional 164 shares during the period. Finally, AlphaQuest LLC lifted its stake in shares of Inspire Medical Systems by 7,275.0% in the fourth quarter. AlphaQuest LLC now owns 295 shares of the company's stock worth $55,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 94.91% of the company's stock.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the firm's 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 transaction, the director directly owned 24,046 shares of the company's stock, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have weighed in on INSP. Royal Bank Of Canada decreased their target price on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp decreased their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Morgan Stanley dropped their target price 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. Wells Fargo & Company cut their price target on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Robert W. Baird increased their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $211.91.

Inspire Medical Systems Trading Down 2.4%

Inspire Medical Systems stock traded down $3.13 during midday trading on Monday, reaching $129.28. The stock had a trading volume of 722,583 shares, compared to its average volume of 550,235. The company has a fifty day moving average price of $143.90 and a two-hundred day moving average price of $165.24. 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 capitalization of $3.81 billion, a P/E ratio of 59.58, a PEG ratio of 2.03 and a beta of 1.29.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. The firm had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. During the same quarter in the previous year, the company posted ($0.34) earnings per share. The company's quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts predict that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems Company 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.