Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received an average rating of “Moderate Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $211.91.

A number of equities research analysts recently commented on the company. Morgan Stanley dropped their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Wells Fargo & Company cut their price target on shares of Inspire Medical Systems from $195.00 to $174.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 6th. JPMorgan Chase & Co. reduced their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Stifel Nicolaus decreased their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a “hold” rating for the company in a report on Monday, April 21st. Finally, Robert W. Baird increased their target price on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an “outperform” rating in a report on Tuesday, May 6th.

Insider Activity

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the transaction, the director now owns 24,046 shares in the company, valued at approximately $3,847,360. This represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. First Horizon Advisors Inc. raised its position in Inspire Medical Systems by 885.7% in the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 124 shares during the last quarter. Huntington National Bank grew its stake in shares of Inspire Medical Systems by 228.3% during the 4th quarter. Huntington National Bank now owns 174 shares of the company’s stock worth $32,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 55 shares during the last quarter. Harbour Investments Inc. lifted its position in shares of Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 shares in the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock worth $33,000 after purchasing an additional 164 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Price Performance

Shares of NYSE:INSP opened at $128.92 on Friday. The stock has a market cap of $3.80 billion, a price-to-earnings ratio of 74.52, a P/E/G ratio of 2.86 and a beta of 1.28. The company has a 50 day moving average of $147.79 and a 200-day moving average of $170.29. Inspire Medical Systems has a one year low of $123.00 and a one year high of $225.00.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.33. The firm had revenue of $201.32 million for the quarter, compared to analysts’ expectations of $194.89 million. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm earned ($0.34) earnings per share. Equities research analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Inspire Medical Systems Company Profile

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.