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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received a consensus rating of “Moderate Buy” from the sixteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and eleven have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $256.53.

Several research firms have weighed in on INSP. Piper Sandler increased their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday. Mizuho reiterated a “buy” rating and set a $250.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research note on Friday, April 19th. They issued an “outperform” rating and a $285.00 price objective on the stock. Truist Financial reaffirmed a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, March 20th. Finally, Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They set a “buy” rating and a $245.00 price objective for the company.

Inspire Medical Systems Stock Down 33.0 %

Shares of INSP stock opened at $164.47 on Thursday. The company has a market capitalization of $4.98 billion, a price-to-earnings ratio of -222.26 and a beta of 1.35. Inspire Medical Systems has a 12-month low of $123.27 and a 12-month high of $330.00. The firm has a fifty day moving average of $215.68 and a 200-day moving average of $190.38.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to analyst estimates 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 revenue was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.53) earnings per share. On average, equities analysts expect that Inspire Medical Systems will post -0.35 EPS for the current year.

Insiders Place Their Bets

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after purchasing an additional 411,480 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $1,271,000. Gilliland Jeter Wealth Management LLC bought a new position in shares of Inspire Medical Systems in the 4th quarter worth approximately $3,369,000. OPTIMAS CAPITAL Ltd purchased a new stake in Inspire Medical Systems during the fourth quarter valued at approximately $3,861,000. Finally, Calamos Advisors LLC purchased a new position in shares of Inspire Medical Systems during the 4th quarter worth $1,929,000. Institutional investors own 94.91% of the company’s stock.

About Inspire Medical Systems

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.