Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Recommendation of “Hold” from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has been given a consensus rating of “Hold” by the seventeen brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $128.1250.

A number of brokerages recently commented on INSP. Mizuho set a $110.00 price objective on Inspire Medical Systems in a research report on Tuesday, November 4th. Piper Sandler restated an “overweight” rating and issued a $135.00 price objective (down from $150.00) on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Jefferies Financial Group reaffirmed a “hold” rating and set a $85.00 target price (down previously from $160.00) on shares of Inspire Medical Systems in a report on Friday, October 24th. UBS Group set a $89.00 price target on Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Monday, September 22nd. Finally, Evercore ISI reduced their target price on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating on the stock in a report on Tuesday, October 7th.

Inspire Medical Systems Stock Performance

INSP opened at $140.30 on Friday. Inspire Medical Systems has a twelve month low of $70.77 and a twelve month high of $216.01. The firm has a market cap of $4.08 billion, a price-to-earnings ratio of 95.44, a PEG ratio of 15.53 and a beta of 0.70. The firm’s 50-day simple moving average is $88.86 and its 200-day simple moving average is $105.10.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.53. The firm had revenue of $224.50 million during the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. As a group, sell-side analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Inspire Medical Systems declared that its Board of Directors has initiated a stock repurchase plan on Monday, August 11th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 8.6% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the sale, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. This represents a 7.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

Several hedge funds have recently bought and sold shares of INSP. Quarry LP boosted its stake in Inspire Medical Systems by 2,127.3% in the 1st quarter. Quarry LP now owns 245 shares of the company’s stock worth $39,000 after purchasing an additional 234 shares during the period. Banque Transatlantique SA bought a new position in shares of Inspire Medical Systems during the first quarter worth about $46,000. Manning & Napier Advisors LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at approximately $32,000. Smartleaf Asset Management LLC lifted its stake in Inspire Medical Systems by 27.2% in the 1st quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after acquiring an additional 130 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

About Inspire Medical Systems

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.