Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been assigned an average rating of “Moderate Buy” from the fourteen analysts that are covering the stock, Marketbeat reports. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $216.62.

INSP has been the subject of several analyst reports. Stifel Nicolaus lowered their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research report on Monday, June 24th. KeyCorp dropped their price target on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Leerink Partners boosted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a research report on Tuesday, September 10th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Finally, Truist Financial reissued a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th.

Insider Activity at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now owns 3,056 shares in the company, valued at approximately $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Randy Ban sold 4,861 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Shawn Mccormick sold 800 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the sale, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,692 shares of company stock worth $1,099,207 in the last three months. Insiders own 4.10% of the company’s stock.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently added to or reduced their stakes in INSP. Baillie Gifford & Co. lifted its position in shares of Inspire Medical Systems by 19.3% during the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after acquiring an additional 237,734 shares during the period. Wellington Management Group LLP raised its holdings in Inspire Medical Systems by 46.4% during the fourth quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after purchasing an additional 453,294 shares during the last quarter. Wasatch Advisors LP raised its holdings in Inspire Medical Systems by 0.5% during the first quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after purchasing an additional 5,522 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Inspire Medical Systems by 32.3% during the second quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares in the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Inspire Medical Systems by 1.8% in the second quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after purchasing an additional 13,602 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 2.6 %

Shares of NYSE:INSP opened at $210.83 on Friday. Inspire Medical Systems has a fifty-two week low of $123.00 and a fifty-two week high of $257.40. The firm’s 50 day moving average price is $197.04 and its 200 day moving average price is $183.21. The stock has a market cap of $6.29 billion, a price-to-earnings ratio of 1,171.28 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.46. The business had revenue of $195.89 million during the quarter, compared to analysts’ expectations of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The company’s revenue for the quarter was up 29.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.41) EPS. On average, equities analysts anticipate that Inspire Medical Systems will post 0.75 EPS for the current year.

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.