Inspire Medical Systems (INSP) – Investment Analysts’ Weekly Ratings Changes

Several analysts have recently updated their ratings and price targets for Inspire Medical Systems (NYSE: INSP):

• 10/26/2023 – Inspire Medical Systems was downgraded by analysts at TheStreet from a “c-” rating to a “d+” rating.
• 10/17/2023 – Inspire Medical Systems had its price target lowered by analysts at JPMorgan Chase & Co. from $340.00 to $181.00. They now have an “overweight” rating on the stock.
• 10/16/2023 – Inspire Medical Systems had its “market perform” rating reaffirmed by analysts at Leerink Partnrs.
• 10/16/2023 – Inspire Medical Systems is now covered by analysts at SVB Leerink LLC. They set a “market perform” rating and a $159.00 price target on the stock.
• 10/2/2023 – Inspire Medical Systems had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $340.00 price target on the stock.
• 9/6/2023 – Inspire Medical Systems had its price target lowered by analysts at UBS Group AG from $405.00 to $322.00. They now have a “buy” rating on the stock.

Inspire Medical Systems Stock Performance

NYSE:INSP opened at $160.29 on Friday. The firm has a market cap of $4.70 billion, a PE ratio of -111.31 and a beta of 1.48. Inspire Medical Systems, Inc. has a fifty-two week low of $143.81 and a fifty-two week high of $330.00. The business has a 50 day moving average price of $189.32 and a 200-day moving average price of $253.59.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 1st. The company reported ($0.41) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.10. The firm had revenue of $151.09 million during the quarter, compared to analyst estimates of $136.47 million. Inspire Medical Systems had a negative return on equity of 8.21% and a negative net margin of 7.81%. The business’s quarterly revenue was up 65.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. Research analysts predict that Inspire Medical Systems, Inc. will post -1.74 EPS for the current year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently made changes to their positions in INSP. Norges Bank purchased a new stake in Inspire Medical Systems in the fourth quarter worth $65,929,000. Envestnet Asset Management Inc. lifted its stake in Inspire Medical Systems by 1,117.0% in the first quarter. Envestnet Asset Management Inc. now owns 231,421 shares of the company’s stock worth $4,586,000 after acquiring an additional 212,406 shares during the period. 1832 Asset Management L.P. purchased a new stake in Inspire Medical Systems in the first quarter worth $43,186,000. Renaissance Technologies LLC lifted its stake in Inspire Medical Systems by 417.2% in the first quarter. Renaissance Technologies LLC now owns 211,000 shares of the company’s stock worth $49,389,000 after acquiring an additional 170,200 shares during the period. Finally, Summit Partners Public Asset Management LLC lifted its stake in Inspire Medical Systems by 114.3% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 299,090 shares of the company’s stock worth $75,335,000 after acquiring an additional 159,506 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

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.