Wellington Management Group LLP Sells 1,147,946 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Wellington Management Group LLP trimmed its position in Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 82.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 244,388 shares of the company's stock after selling 1,147,946 shares during the quarter. Wellington Management Group LLP owned about 0.82% of Inspire Medical Systems worth $45,305,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Mutual of America Capital Management LLC lifted its stake in shares of Inspire Medical Systems by 1.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 4,540 shares of the company's stock worth $842,000 after buying an additional 55 shares during the last quarter. True Wealth Design LLC lifted 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 worth $36,000 after buying an additional 55 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Inspire Medical Systems by 2.0% in the fourth quarter. Captrust Financial Advisors now owns 3,034 shares of the company's stock worth $562,000 after buying an additional 59 shares during the last quarter. MML Investors Services LLC lifted its stake in shares of Inspire Medical Systems by 0.9% in the fourth quarter. MML Investors Services LLC now owns 7,941 shares of the company's stock worth $1,472,000 after buying an additional 67 shares during the last quarter. Finally, Mariner LLC lifted its stake in shares of Inspire Medical Systems by 1.6% in the fourth quarter. Mariner LLC now owns 4,837 shares of the company's stock worth $897,000 after buying an additional 77 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the transaction, the director now owns 24,046 shares of the company's stock, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. KeyCorp cut their price target on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Royal Bank of Canada cut their price target on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Piper Sandler cut their price target on Inspire Medical Systems from $260.00 to $233.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Finally, Morgan Stanley dropped their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Inspire Medical Systems has a consensus rating of "Moderate Buy" and an average price target of $211.91.

Inspire Medical Systems Trading Down 3.4%

NYSE INSP traded down $4.71 during trading hours on Monday, reaching $133.49. 631,737 shares of the company's stock were exchanged, compared to its average volume of 562,292. The stock has a market cap of $3.94 billion, a PE ratio of 77.33, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a one year low of $123.00 and a one year high of $225.00. The firm has a fifty day moving average of $151.44 and a 200-day moving average of $173.14.

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

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.