Inspire Medical Systems (NYSE:INSP) Rating Lowered to Market Perform at Oppenheimer

Inspire Medical Systems (NYSE:INSP) was downgraded by Oppenheimer from an “outperform” rating to a “market perform” rating in a research report issued to clients and investors on Thursday, Marketbeat reports.

Other research analysts also recently issued research reports about the stock. Robert W. Baird boosted their target price on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Morgan Stanley reissued an “equal weight” rating and set a $130.00 target price (up previously from $105.00) on shares of Inspire Medical Systems in a research report on Tuesday, December 2nd. Evercore ISI lowered their target price on Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research note on Tuesday, October 7th. Jefferies Financial Group restated a “hold” rating and set a $85.00 price objective (down from $160.00) on shares of Inspire Medical Systems in a report on Friday, October 24th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Nine investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $138.47.

Inspire Medical Systems Stock Down 1.8%

Shares of NYSE INSP opened at $79.34 on Thursday. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 53.97, a price-to-earnings-growth ratio of 8.10 and a beta of 0.72. The firm has a 50-day moving average price of $106.07 and a 200 day moving average price of $97.14. Inspire Medical Systems has a 52 week low of $70.77 and a 52 week high of $203.12.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share 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%.Inspire Medical Systems’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Equities research analysts expect that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, Director Shawn Mccormick sold 2,000 shares of the business’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the sale, the director owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. The trade was a 7.13% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. V Square Quantitative Management LLC bought a new stake in Inspire Medical Systems in the fourth quarter worth about $40,000. Manning & Napier Advisors LLC bought a new position in shares of Inspire Medical Systems during the 3rd quarter valued at about $32,000. Daiwa Securities Group Inc. grew its stake in shares of Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Inspire Medical Systems by 14.6% in the 2nd quarter. Farther Finance Advisors LLC now owns 603 shares of the company’s stock worth $78,000 after purchasing an additional 77 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of Inspire Medical Systems by 21,266.7% in the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after purchasing an additional 638 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Key Headlines Impacting Inspire Medical Systems

Here are the key news stories impacting Inspire Medical Systems this week:

• Positive Sentiment: Wells Fargo remains constructive, saying the company has long-term upside despite short-term reimbursement headwinds; the note provides some support that institutional investors view the issues as near-term. Read More.
• Positive Sentiment: Zacks argues investors should retain INSP, citing traction for the Inspire V device and management’s focus on balancing growth and near-term pressures — a counterpoint to the negative headlines. Read More.
• Neutral Sentiment: Truist downgraded INSP from Buy to Hold with a $96 price target, which still implies upside but signals reduced near-term conviction from that analyst. Read More.
• Neutral Sentiment: Oppenheimer lowered its rating from Outperform to Market Perform after the reimbursement concerns surfaced — another sign of cooling analyst enthusiasm even if not a full negative thesis. Read More.
• Negative Sentiment: CMS removed coverage for certain sleep-apnea therapy related to Inspire’s offering, a direct hit to expected reimbursement that materially increases near-term revenue risk and drove heavy selling pressure. Read More.
• Negative Sentiment: The Law Offices of Frank R. Cruz has opened an investigation into the company and board over disclosures and delays tied to the Inspire V launch, raising the possibility of shareholder litigation and related distraction/costs. Read More.
• Negative Sentiment: Mainstream coverage summarizes the sell-off and links it to the CMS decision, analyst downgrades, and litigation risk — broadening negative sentiment among retail and institutional holders. Read More.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.