Baillie Gifford & Co. Acquires 1,212,175 Shares of Inspire Medical Systems, Inc. (NYSE:INSP)

Baillie Gifford & Co. grew its position in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 6,846.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,229,879 shares of the company's stock after acquiring an additional 1,212,175 shares during the quarter. Baillie Gifford & Co. owned 4.17% of Inspire Medical Systems worth $250,194,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Inspire Medical Systems by 4.3% in the third quarter. Vanguard Group Inc. now owns 2,863,693 shares of the company's stock valued at $507,934,000 after acquiring an additional 117,888 shares during the last quarter. FMR LLC boosted its holdings in shares of Inspire Medical Systems by 130.1% in the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company's stock valued at $490,437,000 after buying an additional 1,397,510 shares during the last quarter. BlackRock Inc. increased its holdings in Inspire Medical Systems by 6.9% during the first quarter. BlackRock Inc. now owns 2,282,100 shares of the company's stock worth $534,171,000 after buying an additional 146,344 shares during the last quarter. Macquarie Group Ltd. raised its position in Inspire Medical Systems by 0.9% during the second quarter. Macquarie Group Ltd. now owns 1,540,495 shares of the company's stock worth $281,402,000 after acquiring an additional 14,017 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Inspire Medical Systems by 72.8% in the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company's stock valued at $193,870,000 after acquiring an additional 411,480 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded up $1.91 on Wednesday, hitting $240.18. The company's stock had a trading volume of 766,111 shares, compared to its average volume of 522,570. Inspire Medical Systems, Inc. has a fifty-two week low of $123.27 and a fifty-two week high of $330.00. The stock's 50 day moving average is $200.01 and its 200-day moving average is $181.64. The company has a market capitalization of $7.28 billion, a PE ratio of -322.20 and a beta of 1.37.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm had revenue of $192.51 million for the quarter, compared to analyst estimates of $186.75 million. During the same quarter in the prior year, the business posted $0.10 EPS. The business's revenue was up 39.6% compared to the same quarter last year. On average, research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Randy Ban sold 12,230 shares of the business's stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the transaction, the insider now owns 3,029 shares of the company's stock, valued at $561,485.73. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Randy Ban sold 12,230 shares of the firm's stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $185.37, for a total value of $2,267,075.10. Following the completion of the sale, the insider now directly owns 3,029 shares in the company, valued at approximately $561,485.73. The disclosure for this sale can be found here. Insiders have sold a total of 61,371 shares of company stock worth $12,213,828 in the last 90 days. Company insiders own 4.10% of the company's stock.

Analyst Upgrades and Downgrades

INSP has been the topic of several recent analyst reports. Wells Fargo & Company lowered shares of Inspire Medical Systems from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $245.00 to $187.00 in a research note on Wednesday, December 13th. Stifel Nicolaus reaffirmed a "hold" rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Truist Financial reissued a "buy" rating and set a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Mizuho reaffirmed a "buy" rating and set a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Finally, Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They set a "buy" rating and a $245.00 price objective for the company. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $271.29.

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.