Inspire Medical Systems (NYSE:INSP) Shares Gap Down – What’s Next?

Inspire Medical Systems, Inc. (NYSE:INSP) gapped down before the market opened on Monday . The stock had previously closed at $187.77, but opened at $182.00. Inspire Medical Systems shares last traded at $180.51, with a volume of 130,518 shares.

Analysts Set New Price Targets

Several brokerages have weighed in on INSP. Piper Sandler reaffirmed an “overweight” rating and set a $260.00 target price (up previously from $255.00) on shares of Inspire Medical Systems in a research note on Tuesday, November 5th. Bank of America upgraded shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and increased their target price for the company from $220.00 to $255.00 in a research report on Wednesday, November 20th. Stifel Nicolaus restated a “hold” rating and set a $200.00 price target (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Robert W. Baird raised their price objective on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a research note on Tuesday, November 5th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Trading Down 3.4 %

The firm has a market cap of $5.44 billion, a PE ratio of 169.58 and a beta of 1.31. The company’s 50-day moving average is $192.36 and its 200 day moving average is $180.08.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Monday, November 4th. The company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. The firm had revenue of $203.20 million for the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. The business’s quarterly revenue was up 32.6% compared to the same quarter last year. On average, research analysts predict that Inspire Medical Systems, Inc. will post 1.33 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Several large investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Inspire Medical Systems by 3,812.6% in the third quarter. Principal Financial Group Inc. now owns 141,089 shares of the company’s stock worth $29,777,000 after buying an additional 137,483 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of Inspire Medical Systems in the third quarter valued at about $1,208,000. Synovus Financial Corp grew its position in Inspire Medical Systems by 7.5% during the third quarter. Synovus Financial Corp now owns 3,502 shares of the company’s stock worth $739,000 after buying an additional 244 shares in the last quarter. Tidal Investments LLC bought a new position in Inspire Medical Systems during the third quarter valued at about $320,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Inspire Medical Systems by 20.1% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 49,178 shares of the company’s stock worth $10,379,000 after acquiring an additional 8,240 shares during the period. 94.91% of the stock is owned by institutional investors.

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.