Inspire Medical Systems (NYSE:INSP) Lowered to “D+” at TheStreet

Inspire Medical Systems (NYSE:INSPGet Rating) was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating in a research note issued to investors on Friday, TheStreetRatingsTable reports.

A number of other analysts also recently weighed in on the stock. Truist Financial assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, April 12th. They set a “buy” rating and a $315.00 price target for the company. Bank of America assumed coverage on shares of Inspire Medical Systems in a research report on Wednesday, March 2nd. They set a “buy” rating for the company. Piper Sandler raised their price objective on Inspire Medical Systems from $305.00 to $310.00 in a research note on Wednesday, May 4th. SVB Leerink raised their price objective on Inspire Medical Systems from $270.00 to $273.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 9th. Finally, Zacks Investment Research cut Inspire Medical Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems currently has an average rating of “Buy” and an average target price of $297.14.

Shares of NYSE:INSP opened at $177.17 on Friday. The company has a quick ratio of 5.57, a current ratio of 6.08 and a debt-to-equity ratio of 0.06. Inspire Medical Systems has a 52-week low of $142.74 and a 52-week high of $286.29. The company has a 50 day moving average of $221.57 and a two-hundred day moving average of $227.54. The company has a market capitalization of $4.89 billion, a price-to-earnings ratio of -113.57 and a beta of 1.65.

Inspire Medical Systems (NYSE:INSPGet Rating) last issued its quarterly earnings data on Tuesday, May 3rd. The company reported ($0.61) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.73) by $0.12. Inspire Medical Systems had a negative net margin of 16.20% and a negative return on equity of 19.02%. The company had revenue of $69.40 million during the quarter, compared to the consensus estimate of $64.17 million. During the same quarter last year, the company earned ($0.60) earnings per share. Inspire Medical Systems’s revenue for the quarter was up 93.6% on a year-over-year basis. On average, equities analysts anticipate that Inspire Medical Systems will post -2.11 earnings per share for the current year.

In related news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $258.67, for a total value of $3,880,050.00. Following the completion of the sale, the chief financial officer now owns 47,176 shares of the company’s stock, valued at approximately $12,203,015.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Marilyn C. Nelson sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, April 1st. The stock was sold at an average price of $267.50, for a total value of $2,675,000.00. Following the sale, the director now directly owns 3,710 shares of the company’s stock, valued at approximately $992,425. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 52,143 shares of company stock worth $12,848,826. 5.00% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Macquarie Group Ltd. raised its stake in shares of Inspire Medical Systems by 246.2% in the third quarter. Macquarie Group Ltd. now owns 1,072,771 shares of the company’s stock valued at $249,827,000 after purchasing an additional 762,866 shares in the last quarter. Wellington Management Group LLP acquired a new position in shares of Inspire Medical Systems in the third quarter valued at $103,520,000. Allspring Global Investments Holdings LLC acquired a new position in shares of Inspire Medical Systems in the fourth quarter valued at $98,589,000. Viking Global Investors LP acquired a new position in shares of Inspire Medical Systems in the first quarter valued at $79,800,000. Finally, Farallon Capital Management LLC acquired a new position in Inspire Medical Systems during the first quarter worth $72,772,000. Institutional investors and hedge funds own 93.98% of the company’s stock.

Inspire Medical Systems Company Profile (Get Rating)

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.

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