Wellington Management Group LLP Has $45.31 Million Stock Position in Inspire Medical Systems, Inc. (NYSE:INSP)

Wellington Management Group LLP decreased its position in Inspire Medical Systems, Inc. (NYSE:INSP) by 82.4% during the 4th quarter, Holdings Channel reports. The firm owned 244,388 shares of the company’s stock after selling 1,147,946 shares during the quarter. Wellington Management Group LLP’s holdings in Inspire Medical Systems were worth $45,305,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in INSP. Clearbridge Investments LLC grew its holdings in shares of Inspire Medical Systems by 24.6% during the fourth quarter. Clearbridge Investments LLC now owns 16,349 shares of the company’s stock worth $3,031,000 after purchasing an additional 3,231 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Inspire Medical Systems by 1,587.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 35,294 shares of the company’s stock worth $6,543,000 after acquiring an additional 33,202 shares during the last quarter. Cornercap Investment Counsel Inc. acquired a new stake in Inspire Medical Systems in the 4th quarter valued at about $439,000. Pictet Asset Management Holding SA increased its position in Inspire Medical Systems by 14.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,298 shares of the company’s stock valued at $797,000 after acquiring an additional 536 shares in the last quarter. Finally, New Age Alpha Advisors LLC bought a new position in shares of Inspire Medical Systems in the fourth quarter worth about $453,000. 94.91% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Randy Ban sold 25,584 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $183.50, for a total transaction of $4,694,664.00. Following the sale, the insider now directly owns 7,259 shares in the company, valued at $1,332,026.50. This trade represents a 77.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total transaction of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at approximately $1,777,187.76. The trade was a 5.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock worth $4,806,530 in the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on INSP. Wells Fargo & Company decreased their price target on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research note on Tuesday, February 11th. Robert W. Baird lowered their target price on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating for the company in a research note on Tuesday, February 11th. KeyCorp reaffirmed an “overweight” rating and set a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Piper Sandler cut their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Inspire Medical Systems currently has a consensus rating of “Moderate Buy” and an average price target of $226.70.

Inspire Medical Systems Stock Performance

INSP opened at $141.49 on Friday. The firm’s fifty day moving average is $175.94 and its two-hundred day moving average is $188.21. The firm has a market cap of $4.21 billion, a PE ratio of 81.78, a price-to-earnings-growth ratio of 2.86 and a beta of 1.39. Inspire Medical Systems, Inc. has a twelve month low of $123.00 and a twelve month high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. Equities analysts forecast that Inspire Medical Systems, Inc. will post 2.16 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.