Inspire Medical Systems (INSP) Reported Better-Than-Expected Results in Q2
TimesSquare Capital Management, an equity investment management company, released its “U.S. Small Cap Growth Strategy” second-quarter investor letter. A copy of the same can be downloaded here. In the second quarter, the strategy underperformed the Russell 2000 Growth Index and returned 2.50% (net), and the index return was 7.05%. Consumer Staples, Health Care, Industrials, and Information Technology showed relative weakness. However, Communication Services and Materials showed strength, partially offsetting the weakness. In addition, please check the fund’s top five holdings to know its best picks in 2023.
TimesSquare U.S. Small Cap Growth Strategy highlighted stocks like Inspire Medical Systems, Inc. (NYSE:INSP) in the second quarter 2023 investor letter. Headquartered in Golden Valley, Minnesota, Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company. On September 21, 2023, Inspire Medical Systems, Inc. (NYSE:INSP) stock closed at $191.21 per share. One-month return of Inspire Medical Systems, Inc. (NYSE:INSP) was -11.28%, and its shares gained 11.43% of their value over the last 52 weeks. Inspire Medical Systems, Inc. (NYSE:INSP) has a market capitalization of $5.609 billion.
TimesSquare U.S. Small Cap Growth Strategy made the following comment about Inspire Medical Systems, Inc. (NYSE:INSP) in its Q2 2023 investor letter:
"Inspire Medical Systems, Inc. (NYSE:INSP), a medical technology company focused on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. The stock surged ahead by 38% after reporting better-than-expected results on higher procedure volumes. Inspire received approval to treat pediatric patients with down syndrome. The FDA has also fast-tracked the company’s application to treat higher acuity patients under a breakthrough designation. We trimmed Inspire on this strength."
A doctor demonstrating how to use the medical device to a patient with diabetes. Editorial photo for a financial news article. 8k. --ar 16:9
Inspire Medical Systems, Inc. (NYSE:INSP) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 47 hedge fund portfolios held Inspire Medical Systems, Inc. (NYSE:INSP) at the end of second quarter which was 40 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 Q2 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.
