Allspring Global Investments Holdings LLC Decreases Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Allspring Global Investments Holdings LLC decreased its stake in shares of Inspire Medical Systems, Inc. (NYSE:INSP - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,835 shares of the company's stock after selling 11,860 shares during the period. Allspring Global Investments Holdings LLC owned about 0.74% of Inspire Medical Systems worth $44,721,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $166,000. OPTIMAS CAPITAL Ltd bought a new position in Inspire Medical Systems in the fourth quarter worth approximately $3,861,000. Miracle Mile Advisors LLC purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $203,000. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $27,000. Finally, Raymond James Financial Services Advisors Inc. increased its stake in shares of Inspire Medical Systems by 18.7% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 3,382 shares of the company's stock worth $688,000 after purchasing an additional 533 shares in the last quarter. Institutional investors own 94.91% of the company's stock.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 554 shares of the firm's stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company's stock, valued at approximately $1,929,799.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Timothy P. Herbert sold 40,000 shares of the business's stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now owns 63,658 shares in the company, valued at $13,055,619.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the transaction, the director now directly owns 9,744 shares in the company, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Insiders sold a total of 61,371 shares of company stock worth $12,213,828 over the last three months. 4.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on INSP. Morgan Stanley began coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They set an "overweight" rating and a $250.00 price target for the company. 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. Stifel Nicolaus reissued a "hold" rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Truist Financial reaffirmed a "buy" rating and issued a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, KeyCorp assumed coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Inspire Medical Systems has a consensus rating of "Moderate Buy" and a consensus target price of $271.29.

Inspire Medical Systems Price Performance

Shares of NYSE INSP traded down $0.64 during mid-day trading on Friday, hitting $231.64. 305,032 shares of the company's stock traded hands, compared to its average volume of 518,846. Inspire Medical Systems, Inc. has a 1 year low of $123.27 and a 1 year high of $330.00. The company's 50-day moving average is $200.91 and its two-hundred day moving average is $182.40. The company has a market capitalization of $7.02 billion, a P/E ratio of -313.89 and a beta of 1.37.

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

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.