Inspire Medical Systems (NYSE:INSP) Downgraded to “Hold” Rating by Truist Financial

Truist Financial cut shares of Inspire Medical Systems (NYSE:INSP) from a buy rating to a hold rating in a report released on Thursday, Marketbeat Ratings reports. Truist Financial currently has $96.00 target price on the stock.

A number of other equities research analysts have also issued reports on INSP. Robert W. Baird upped their target price on shares of Inspire Medical Systems from $125.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, December 4th. Zacks Research upgraded Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th. Wolfe Research raised Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Tuesday, November 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 target price (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Finally, UBS Group upped their price target on Inspire Medical Systems from $89.00 to $91.00 and gave the company a “neutral” rating in a research report on Tuesday, December 23rd. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has an average rating of “Hold” and a consensus target price of $138.47.

Inspire Medical Systems Stock Down 16.0%

Shares of INSP opened at $80.81 on Thursday. The firm has a market cap of $2.35 billion, a price-to-earnings ratio of 54.97, a PEG ratio of 9.65 and a beta of 0.72. The business’s 50 day moving average is $106.21 and its two-hundred day moving average is $97.47. Inspire Medical Systems has a 52-week low of $70.77 and a 52-week high of $203.12.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results 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. The business had revenue of $224.50 million during the quarter, compared to analyst estimates of $220.39 million. Inspire Medical Systems had a net margin of 5.05% and a return on equity of 9.41%. The business’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. On average, equities analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the completion of the transaction, the director directly owned 26,046 shares in the company, valued at $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. Manning & Napier Advisors LLC bought a new position in shares of Inspire Medical Systems during the third quarter worth about $32,000. V Square Quantitative Management LLC bought a new stake in Inspire Medical Systems in the 4th quarter valued at about $40,000. Larson Financial Group LLC boosted its stake in Inspire Medical Systems by 21,266.7% during the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock valued at $48,000 after purchasing an additional 638 shares during the period. Pilgrim Partners Asia Pte Ltd bought a new position in Inspire Medical Systems in the 3rd quarter worth about $49,000. Finally, Daiwa Securities Group Inc. grew its position in Inspire Medical Systems by 38.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.