Inspire Medical Systems (INSP) Experienced Volatility in 2023
Mairs & Power, an investment advisor, released the “Mairs & Power Small Cap Fund” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The Mairs & Power Small Cap Fund was up 11.04% in 2023 compared to the S&P Small Cap 600 TR benchmark's 16.05% return, and the Morningstar U.S. Fund Small Blend's 16.03% gain. The performance of various sectors varied throughout the year, with several sectors experiencing increased volatility. The Fund's year-to-date underperformance compared to the benchmark can be attributed primarily to the strong performance of the Consumer Discretionary sector, in which the Fund has a significant underweight position. In addition, please check the fund’s top five holdings to know its best picks in 2023.
Mairs & Power Small Cap Fund featured stocks such as Medical Systems, Inc. (NYSE:INSP) in the fourth quarter 2023 investor letter. Headquartered in Golden Valley, Minnesota, Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company. On January 31, 2024, Inspire Medical Systems, Inc. (NYSE:INSP) stock closed at $210.87 per share. The one-month return of Inspire Medical Systems, Inc. (NYSE:INSP) was 21.73%, and its shares lost 17.93% of their value over the last 52 weeks. Inspire Medical Systems, Inc. (NYSE:INSP) has a market capitalization of $6.226 billion.
Mairs & Power Small Cap Fund stated the following regarding Inspire Medical Systems, Inc. (NYSE:INSP) in its fourth quarter 2023 investor letter:
"Looking at individual stocks, year-to-date relative underperformance was driven in part by several stocks. Inspire Medical Systems, Inc. (NYSE:INSP), a medical technology device company based in Minnesota that offers minimally invasive implants to address obstructive sleep apnea which has experienced volatility related to fears of substitution risk from GLP-1 weight loss drugs."
A medical professional performing a minimally invasive procedure while using the company's technology.
Inspire Medical Systems, Inc. (NYSE:INSP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 49 hedge fund portfolios held Inspire Medical Systems, Inc. (NYSE:INSP)at the end of third quarter which was 47 in the previous quarter.
We discussed Inspire Medical Systems, Inc. (NYSE:INSP) in another article and shared Headwaters Capital Management 's views on the company. In addition, please check out our hedge fund investor letters Q4 2023 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.
