Inspire Medical Systems (NYSE:INSP) Cut to “Hold” at Zacks Research

Zacks Research cut shares of Inspire Medical Systems (NYSE:INSP) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

INSP has been the topic of several other reports. Jefferies Financial Group decreased their price target on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a report on Thursday, February 12th. Wolfe Research lowered shares of Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, February 13th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $56.00 price target on shares of Inspire Medical Systems in a report on Tuesday. UBS Group set a $67.00 price target on shares of Inspire Medical Systems in a report on Friday, February 13th. Finally, Piper Sandler decreased their price target on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a report on Thursday, February 12th. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $101.41.

Inspire Medical Systems Stock Down 0.3%

INSP stock opened at $56.48 on Tuesday. Inspire Medical Systems has a 12 month low of $48.30 and a 12 month high of $163.35. The firm has a market cap of $1.63 billion, a P/E ratio of 11.34, a P/E/G ratio of 2.92 and a beta of 0.86. The company’s 50-day moving average price is $58.29 and its two-hundred day moving average price is $81.06.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Wednesday, February 11th. The company reported $1.65 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 analyst estimates of $264.02 million. During the same period last year, the firm earned $1.15 EPS. The business’s quarterly revenue was up 12.2% compared to the same quarter last year. Equities analysts predict that Inspire Medical Systems will post 2.16 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. boosted its position in Inspire Medical Systems by 2.9% during the 3rd quarter. Xponance Inc. now owns 4,177 shares of the company’s stock worth $310,000 after buying an additional 116 shares during the period. Daiwa Securities Group Inc. boosted its position in Inspire Medical Systems by 38.7% during the 2nd quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after buying an additional 130 shares during the period. State of Wyoming boosted its position in Inspire Medical Systems by 31.5% during the 4th quarter. State of Wyoming now owns 731 shares of the company’s stock worth $67,000 after buying an additional 175 shares during the period. Smartleaf Asset Management LLC boosted its position in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after buying an additional 205 shares during the period. Finally, Blair William & Co. IL boosted its position in Inspire Medical Systems by 5.1% during the 3rd quarter. Blair William & Co. IL now owns 4,865 shares of the company’s stock worth $361,000 after buying an additional 234 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.