Inspire Medical Systems (NYSE:INSP) Upgraded at Zacks Research

Zacks Research upgraded shares of Inspire Medical Systems (NYSE:INSP) from a hold rating to a strong-buy rating in a report issued on Monday,Zacks.com reports.

Other analysts also recently issued reports about the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Jefferies Financial Group cut their price objective on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating for the company in a research report on Thursday, February 12th. Royal Bank Of Canada reduced their target price on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Finally, Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a research report on Thursday, February 12th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $104.24.

Inspire Medical Systems Price Performance

Shares of INSP opened at $51.46 on Monday. Inspire Medical Systems has a 1 year low of $50.50 and a 1 year high of $167.92. The company has a 50 day simple moving average of $67.23 and a two-hundred day simple moving average of $83.98. The firm has a market cap of $1.48 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 2.56 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.96. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. During the same quarter last year, the business posted $1.15 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors have recently bought and sold shares of the business. Wellington Management Group LLP purchased a new position in shares of Inspire Medical Systems in the 4th quarter worth $203,929,000. Dragoneer Investment Group LLC raised its position in shares of 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 valued at $305,532,000 after buying an additional 1,056,808 shares in the last quarter. M&T Bank Corp purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at about $85,871,000. Deerfield Management Company L.P. lifted its holdings in shares of Inspire Medical Systems by 648.4% in 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 acquiring an additional 907,694 shares during the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Inspire Medical Systems by 179.5% in the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock valued at $116,188,000 after acquiring an additional 809,121 shares during the last quarter. Institutional investors 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.