Inspire Medical Systems, Inc. (NYSE:INSP) Given Average Rating of “Moderate Buy” by Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has earned a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $256.53.

Several research firms recently commented on INSP. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective for the company. Mizuho reaffirmed a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. KeyCorp initiated coverage on Inspire Medical Systems in a research note on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 target price on the stock. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Finally, Truist Financial restated a “buy” rating and set a $280.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 20th.

Inspire Medical Systems Stock Down 33.0 %

INSP opened at $164.47 on Thursday. The company has a fifty day moving average of $215.68 and a 200-day moving average of $190.38. Inspire Medical Systems has a twelve month low of $123.27 and a twelve month high of $330.00. The stock has a market cap of $4.98 billion, a PE ratio of -222.26 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.63) by $0.29. The company had revenue of $164.01 million for the quarter, compared to analysts’ expectations of $161.41 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s quarterly revenue was up 28.2% compared to the same quarter last year. During the same period last year, the business earned ($0.53) EPS. Sell-side analysts anticipate that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $193.53, for a total value of $107,215.62. Following the completion of the sale, the director now directly owns 10,190 shares of the company’s stock, valued at $1,972,070.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Randy Ban sold 3,060 shares of the firm’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,371 shares of company stock worth $15,664,278. Corporate insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in Inspire Medical Systems by 130.1% in the third quarter. FMR LLC now owns 2,471,464 shares of the company’s stock valued at $490,437,000 after acquiring an additional 1,397,510 shares during the last quarter. Baillie Gifford & Co. raised its stake in shares of Inspire Medical Systems by 19.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after purchasing an additional 237,734 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Inspire Medical Systems by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after purchasing an additional 453,294 shares during the period. Wasatch Advisors LP lifted its holdings in Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock valued at $236,885,000 after purchasing an additional 5,522 shares during the last quarter. Finally, Frontier Capital Management Co. LLC lifted its position in Inspire Medical Systems by 105.2% during the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after acquiring an additional 380,362 shares during the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

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.