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

Posted by Defense World Staff on May 25th, 2023

Shares of Inspire Medical Systems, Inc. (NYSE:INSP – Get Rating) have been assigned an average rating of “Buy” from the eleven analysts that are currently covering the stock, Marketbeat reports. Four analysts have rated the stock with a buy recommendation. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $312.56.

A number of analysts have recently weighed in on INSP shares. 92 Resources reaffirmed a “maintains” rating on shares of Inspire Medical Systems in a research report on Wednesday, May 3rd. Stifel Nicolaus boosted their price target on Inspire Medical Systems from $290.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, April 11th. Mizuho started coverage on Inspire Medical Systems in a research note on Thursday, April 13th. They issued a “buy” rating and a $300.00 price target on the stock. Truist Financial lifted their price objective on Inspire Medical Systems from $335.00 to $360.00 in a research note on Thursday, May 18th. Finally, UBS Group increased their price objective on shares of Inspire Medical Systems from $300.00 to $304.00 in a research report on Wednesday, May 3rd.

Insider Activity

In other news, VP Steven Jandrich sold 8,000 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $271.02, for a total transaction of $2,168,160.00. Following the sale, the vice president now directly owns 4,371 shares of the company’s stock, valued at $1,184,628.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Inspire Medical Systems news, Director Jerry C. Griffin sold 529 shares of the stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $280.00, for a total transaction of $148,120.00. Following the transaction, the director now owns 3,200 shares in the company, valued at $896,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Steven Jandrich sold 8,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The stock was sold at an average price of $271.02, for a total value of $2,168,160.00. Following the transaction, the vice president now directly owns 4,371 shares of the company’s stock, valued at $1,184,628.42. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,310 shares of company stock worth $4,280,627. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Royce & Associates LP boosted its position in Inspire Medical Systems by 32.0% during the first quarter. Royce & Associates LP now owns 16,488 shares of the company’s stock worth $3,859,000 after acquiring an additional 4,000 shares during the last quarter. Advisory Services Network LLC lifted its holdings in Inspire Medical Systems by 9.9% in the first quarter. Advisory Services Network LLC now owns 1,238 shares of the company’s stock valued at $290,000 after acquiring an additional 112 shares during the last quarter. Rockefeller Capital Management L.P. grew its position in Inspire Medical Systems by 188.1% in the first quarter. Rockefeller Capital Management L.P. now owns 2,581 shares of the company’s stock worth $604,000 after acquiring an additional 1,685 shares during the period. Thrivent Financial for Lutherans increased its stake in Inspire Medical Systems by 2.0% during the first quarter. Thrivent Financial for Lutherans now owns 161,915 shares of the company’s stock worth $37,900,000 after acquiring an additional 3,249 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV raised its holdings in Inspire Medical Systems by 19.9% in the 1st quarter. Mercer Global Advisors Inc. ADV now owns 1,080 shares of the company’s stock valued at $253,000 after buying an additional 179 shares during the period. Hedge funds and other institutional investors own 97.04% of the company’s stock.

Inspire Medical Systems Trading Up 0.3 %

Shares of INSP opened at $299.88 on Thursday. The stock has a 50-day moving average price of $263.40 and a 200-day moving average price of $252.25. The company has a market cap of $8.70 billion, a PE ratio of -192.23 and a beta of 1.44. Inspire Medical Systems has a 12-month low of $157.04 and a 12-month high of $314.36.

Inspire Medical Systems (NYSE:INSP – Get Rating) last announced its quarterly earnings results on Tuesday, May 2nd. The company reported ($0.53) EPS for the quarter, topping analysts’ consensus estimates of ($0.70) by $0.17. Inspire Medical Systems had a negative return on equity of 10.27% and a negative net margin of 9.35%. The business had revenue of $127.90 million for the quarter, compared to analysts’ expectations of $120.06 million. During the same period in the previous year, the firm earned ($0.61) EPS. The business’s quarterly revenue was up 84.3% on a year-over-year basis. As a group, analysts predict that Inspire Medical Systems will post -1.18 earnings per share for the current year.

Inspire Medical Systems Company Profile

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Inspire Medical Systems, Inc engages in the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea. It offers inspire therapy, which consists of a remote control and implantable components that includes pressure sensing lead, a neurostimulator, and a stimulation lead.