Inspire Medical Systems, Inc. (NYSE:INSP) Given Average Rating of “Hold” by Brokerages

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average rating of “Hold” from the nineteen analysts that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $138.4706.

A number of brokerages have recently commented on INSP. Wells Fargo & Company cut their price target on Inspire Medical Systems from $160.00 to $145.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 14th. UBS Group set a $96.00 price objective on shares of Inspire Medical Systems in a report on Thursday. Oppenheimer lowered shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a research report on Tuesday, November 4th. Finally, Evercore ISI reiterated an “outperform” rating and set a $125.00 price target on shares of Inspire Medical Systems in a report on Thursday.

Inspire Medical Systems Stock Performance

NYSE INSP opened at $79.34 on Friday. The firm’s fifty day moving average price is $106.07 and its two-hundred day moving average price is $97.14. The stock has a market cap of $2.31 billion, a PE ratio of 53.97, a PEG ratio of 8.10 and a beta of 0.72. Inspire Medical Systems has a fifty-two week low of $70.77 and a fifty-two week high of $203.12.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings results on Monday, November 3rd. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.53. The company had revenue of $224.50 million during the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.Inspire Medical Systems’s revenue was up 10.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. As a group, sell-side analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total transaction of $254,960.00. Following the transaction, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. The trade was a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently bought and sold shares of INSP. Dragoneer Investment Group LLC grew its holdings in Inspire Medical Systems by 81.4% during the 2nd quarter. Dragoneer Investment Group LLC now owns 2,354,411 shares of the company’s stock worth $305,532,000 after acquiring an additional 1,056,808 shares during the period. Deerfield Management Company L.P. boosted its position in shares of Inspire Medical Systems by 648.4% during the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after purchasing an additional 907,694 shares in the last quarter. Balyasny Asset Management L.P. grew its stake in Inspire Medical Systems by 16,504.3% during the third quarter. Balyasny Asset Management L.P. now owns 614,359 shares of the company’s stock worth $45,585,000 after purchasing an additional 610,659 shares during the period. William Blair Investment Management LLC increased its holdings in Inspire Medical Systems by 68.7% in the third quarter. William Blair Investment Management LLC now owns 1,297,573 shares of the company’s stock worth $96,280,000 after purchasing an additional 528,404 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Inspire Medical Systems by 773.7% in the third quarter. BNP Paribas Financial Markets now owns 522,180 shares of the company’s stock worth $38,746,000 after purchasing an additional 462,412 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Key Stories Impacting Inspire Medical Systems

Here are the key news stories impacting Inspire Medical Systems this week:

• Positive Sentiment: Wells Fargo remains constructive, saying the company has long-term upside despite short-term reimbursement headwinds; the note provides some support that institutional investors view the issues as near-term. Read More.
• Positive Sentiment: Zacks argues investors should retain INSP, citing traction for the Inspire V device and management’s focus on balancing growth and near-term pressures — a counterpoint to the negative headlines. Read More.
• Neutral Sentiment: Truist downgraded INSP from Buy to Hold with a $96 price target, which still implies upside but signals reduced near-term conviction from that analyst. Read More.
• Neutral Sentiment: Oppenheimer lowered its rating from Outperform to Market Perform after the reimbursement concerns surfaced — another sign of cooling analyst enthusiasm even if not a full negative thesis. Read More.
• Negative Sentiment: CMS removed coverage for certain sleep-apnea therapy related to Inspire’s offering, a direct hit to expected reimbursement that materially increases near-term revenue risk and drove heavy selling pressure. Read More.
• Negative Sentiment: The Law Offices of Frank R. Cruz has opened an investigation into the company and board over disclosures and delays tied to the Inspire V launch, raising the possibility of shareholder litigation and related distraction/costs. Read More.
• Negative Sentiment: Mainstream coverage summarizes the sell-off and links it to the CMS decision, analyst downgrades, and litigation risk — broadening negative sentiment among retail and institutional holders. Read More.

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.