Inspire Medical Systems (INSP) Surpassed Estimates in Q4

Wasatch Global Investors, an asset management company, released its “Wasatch Small Cap Growth Strategy” fourth-quarter 2022 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the strategy underperformed indexes, the Russell 2000 Growth Index and the Russell 2000 Index, which rose 4.13% and 6.23%, respectively. The weakness in information technology holdings and lack of exposure in the energy sector were the primary reasons for the underperformance of the strategy relative to the Russell 2000 Growth Index in the quarter whereas stocks in the healthcare and consumer sectors contributed to the performance. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Wasatch Small Cap Growth Strategy highlighted stocks like Inspire Medical Systems, Inc. (NYSE:INSP) in its Q4 2022 investor letter. Headquartered in Golden Valley, Minnesota, Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company. On March 29, 2023, Inspire Medical Systems, Inc. (NYSE:INSP) stock closed at $242.00 per share. One-month return of Inspire Medical Systems, Inc. (NYSE:INSP) was -6.62%, and its shares lost 5.72% of their value over the last 52 weeks. Inspire Medical Systems, Inc. (NYSE:INSP) has a market capitalization of $7.05 billion.

Wasatch Small Cap Growth Strategy made the following comment about Inspire Medical Systems, Inc. (NYSE:INSP) in its Q4 2022 investor letter:

“Inspire Medical Systems, Inc. (NYSE:INSP) develops minimally invasive solutions for patients with obstructive sleep apnea. The company has experienced strong demand for its products, which serve a previously unmet medical need. Inspire’s management team has executed well, growing revenues at a rapid clip since the company’s initial public offering in 2018. Most recently, Inspire reported year-over-year quarterly revenue growth of 77%, surpassing Wall Street estimates. Citing increased utilization at existing sites and the addition of new implanting centers, management raised its full-year revenue forecast and maintained margin guidance in the range of 83% to 85%.”

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Inspire Medical Systems, Inc. (NYSE:INSP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 35 hedge fund portfolios held Inspire Medical Systems, Inc. (NYSE:INSP) at the end of the fourth quarter which was 37 in the previous quarter.

We discussed Inspire Medical Systems, Inc. (NYSE:INSP) in another article and shared Alger Small Cap Focus Fund’s views on the company. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.