Inspire Medical Systems (INSP) Fell on Concerns about Weight Loss Drug

Chartwell Investment Partners, LLC, an affiliate of Carillon Tower Advisers, Inc., released the “Carillon Chartwell Small Cap Value Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. Information technology and industrials were the top-performing sectors in the Carillon Chartwell Small Cap Growth Fund, with alpha production coming from well-chosen stocks. In contrast, poor stock selection hindered the materials sector’s performance. In addition, please check the fund’s top five holdings to know its best picks in 2023.

Carillon Chartwell Small Cap Value Fund highlighted stocks like Inspire Medical Systems, Inc. (NYSE:INSP) in the third quarter 2023 investor letter. Headquartered in Golden Valley, Minnesota, Inspire Medical Systems, Inc. (NYSE:INSP) is a medical technology company. On December 26, 2023, Inspire Medical Systems, Inc. (NYSE:INSP) stock closed at $200.94 per share. One-month return of Inspire Medical Systems, Inc. (NYSE:INSP) was 39.29%, and its shares lost 20.27% of their value over the last 52 weeks. Inspire Medical Systems, Inc. (NYSE:INSP) has a market capitalization of $5.933 billion.

Carillon Chartwell Small Cap Value Fund made the following comment about Inspire Medical Systems, Inc. (NYSE:INSP) in its Q3 2023 investor letter:

“Inspire Medical Systems, Inc. (NYSE:INSP) is a medical device company focused on the obstructive sleep apnea market. While Inspire continues to grow at a rapid pace, investors are concerned that the successful launches of glucagon-like peptide 1 (GLP-1) weight loss drugs will have a negative impact on Inspire’s growth rates in the future.”

A doctor pointing to a graph representing the diagnosis of a patient’s sleep apnea.

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 Wasatch Small Cap Growth Strategy’s views on the company. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

Suggested Articles:

• 20 Countries with Highest Income Tax Rates in the World
• 25 Technologies That Have Changed the World
• 15 Cities Where You Can Buy a Home for Under 300k

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