Baillie Gifford & Co. Sells 29,538 Shares of Inspire Medical Systems, Inc. $INSP

Baillie Gifford & Co. trimmed its stake in Inspire Medical Systems, Inc. (NYSE:INSP) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,084,350 shares of the company’s stock after selling 29,538 shares during the period. Baillie Gifford & Co.’s holdings in Inspire Medical Systems were worth $80,459,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd grew its stake in Inspire Medical Systems by 3,708.7% in the 3rd quarter. Covestor Ltd now owns 1,752 shares of the company’s stock worth $130,000 after buying an additional 1,706 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $32,000. Concurrent Investment Advisors LLC bought a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $235,000. SG Americas Securities LLC grew its position in Inspire Medical Systems by 80.3% in the third quarter. SG Americas Securities LLC now owns 7,754 shares of the company’s stock worth $575,000 after acquiring an additional 3,454 shares in the last quarter. Finally, Diversified Trust Co increased its stake in Inspire Medical Systems by 67.8% in the third quarter. Diversified Trust Co now owns 7,840 shares of the company’s stock valued at $582,000 after acquiring an additional 3,167 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

Shares of Inspire Medical Systems stock opened at $79.34 on Friday. Inspire Medical Systems, Inc. has a one year low of $70.77 and a one year high of $203.12. The business’s 50 day simple moving average is $106.07 and its two-hundred day simple moving average is $96.89. The stock has a market capitalization of $2.31 billion, a P/E ratio of 53.97, a price-to-earnings-growth ratio of 7.96 and a beta of 0.72.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm had revenue of $224.50 million for the quarter, compared to analysts’ expectations of $220.39 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue was up 10.5% on a year-over-year basis. Sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on INSP. Royal Bank Of Canada lifted their price target on Inspire Medical Systems from $125.00 to $175.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Wolfe Research raised Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price objective on the stock in a report on Tuesday, November 25th. JPMorgan Chase & Co. upped their target price on Inspire Medical Systems from $82.00 to $118.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 16th. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday. Finally, Morgan Stanley restated an “equal weight” rating and issued a $130.00 price objective (up from $105.00) on shares of Inspire Medical Systems in a report on Tuesday, December 2nd. Nine analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $138.47.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $127.48, for a total value of $254,960.00. Following the sale, the director owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This trade represents a 7.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.10% of the stock is currently owned by company insiders.

Inspire Medical Systems News Summary

Here are the key news stories impacting Inspire Medical Systems this week:

• Positive Sentiment: Wells Fargo remains constructive, saying the company has long-term upside despite short-term reimbursement headwinds; the note provides some support that institutional investors view the issues as near-term. Read More.
• Positive Sentiment: Zacks argues investors should retain INSP, citing traction for the Inspire V device and management’s focus on balancing growth and near-term pressures — a counterpoint to the negative headlines. Read More.
• Neutral Sentiment: Truist downgraded INSP from Buy to Hold with a $96 price target, which still implies upside but signals reduced near-term conviction from that analyst. Read More.
• Neutral Sentiment: Oppenheimer lowered its rating from Outperform to Market Perform after the reimbursement concerns surfaced — another sign of cooling analyst enthusiasm even if not a full negative thesis. Read More.
• Negative Sentiment: CMS removed coverage for certain sleep-apnea therapy related to Inspire’s offering, a direct hit to expected reimbursement that materially increases near-term revenue risk and drove heavy selling pressure. Read More.
• Negative Sentiment: The Law Offices of Frank R. Cruz has opened an investigation into the company and board over disclosures and delays tied to the Inspire V launch, raising the possibility of shareholder litigation and related distraction/costs. Read More.
• Negative Sentiment: Mainstream coverage summarizes the sell-off and links it to the CMS decision, analyst downgrades, and litigation risk — broadening negative sentiment among retail and institutional holders. Read More.

Inspire Medical Systems Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.