Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Recommendation of “Hold” from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have received a consensus recommendation of “Hold” from the seventeen ratings firms that are presently covering the company, MarketBeat reports. One analyst has rated the stock with a sell recommendation, seven have assigned a hold recommendation and nine have assigned a buy recommendation to the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $128.1250.

A number of research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Inspire Medical Systems from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $101.00 to $90.00 in a research report on Tuesday, November 4th. Truist Financial raised shares of Inspire Medical Systems from a “hold” rating to a “buy” rating and lifted their target price for the company from $128.00 to $165.00 in a report on Wednesday, November 26th. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Royal Bank Of Canada decreased their price objective on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, November 4th. Finally, Wolfe Research upgraded Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 price target for the company in a research note on Tuesday, November 25th.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction on Friday, November 28th. The shares were sold at an average price of $127.48, for a total transaction of $254,960.00. Following the sale, the director owned 26,046 shares of the company’s stock, valued at $3,320,344.08. The trade was a 7.13% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Inspire Medical Systems by 57.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company’s stock worth $8,190,000 after purchasing an additional 18,857 shares during the period. Nordea Investment Management AB acquired a new stake in Inspire Medical Systems during the second quarter worth about $1,634,000. Bayforest Capital Ltd increased its stake in Inspire Medical Systems by 2,465.9% during the first quarter. Bayforest Capital Ltd now owns 5,491 shares of the company’s stock valued at $875,000 after acquiring an additional 5,277 shares during the period. KLP Kapitalforvaltning AS raised its holdings in Inspire Medical Systems by 10.5% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 6,300 shares of the company’s stock valued at $818,000 after acquiring an additional 600 shares in the last quarter. Finally, Capital Fund Management S.A. raised its holdings in Inspire Medical Systems by 44.1% in the 2nd quarter. Capital Fund Management S.A. now owns 68,663 shares of the company’s stock valued at $8,910,000 after acquiring an additional 21,021 shares in the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Up 4.1%

Shares of NYSE INSP opened at $140.30 on Friday. Inspire Medical Systems has a 12-month low of $70.77 and a 12-month high of $216.01. The stock’s fifty day simple moving average is $88.86 and its two-hundred day simple moving average is $105.10. The stock has a market capitalization of $4.08 billion, a PE ratio of 95.44, a price-to-earnings-growth ratio of 15.53 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.53. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The firm had revenue of $224.50 million for the quarter, compared to the consensus estimate of $220.39 million. During the same quarter in the previous year, the firm earned $0.60 EPS. The company’s quarterly revenue was up 10.5% compared to the same quarter last year. On average, equities analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems declared that its Board of Directors has approved a share repurchase plan on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 8.6% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

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.