Bank of America reaffirmed their neutral rating on shares of Inspire Medical Systems (NASDAQ:INSP) in a report published on Monday, The Fly reports. Bank of America currently has a $75.00 target price on the stock, up from their prior target price of $65.00.
Separately, Zacks Investment Research lowered shares of Zynerba Pharmaceuticals from a buy rating to a hold rating in a research note on Saturday, May 11th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $57.20.
Shares of NASDAQ:INSP opened at $67.33 on Monday. The stock’s fifty day moving average is $58.40. Inspire Medical Systems has a 12 month low of $35.43 and a 12 month high of $69.71.
Inspire Medical Systems (NASDAQ:INSP) last announced its quarterly earnings results on Tuesday, May 7th. The company reported ($0.35) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.04. The company had revenue of $16.30 million for the quarter, compared to analyst estimates of $17.79 million. The company’s quarterly revenue was up 63.0% on a year-over-year basis.
In other Inspire Medical Systems news, Director Joyce Erony sold 191,192 shares of Inspire Medical Systems stock in a transaction on Wednesday, July 10th. The shares were sold at an average price of $66.98, for a total value of $12,806,040.16. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Randy Ban sold 10,074 shares of Inspire Medical Systems stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $50.09, for a total transaction of $504,606.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,266 shares of company stock worth $28,674,342.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. TD Asset Management Inc. increased its stake in Inspire Medical Systems by 3.1% in the first quarter. TD Asset Management Inc. now owns 9,861 shares of the company’s stock valued at $560,000 after purchasing an additional 300 shares during the period. Summit Partners Public Asset Management LLC increased its stake in Inspire Medical Systems by 2.0% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 28,522 shares of the company’s stock valued at $1,205,000 after purchasing an additional 566 shares during the period. FinTrust Capital Advisors LLC acquired a new position in Inspire Medical Systems in the first quarter valued at $34,000. Capital Financial Planning LLC acquired a new position in Inspire Medical Systems in the fourth quarter valued at $27,000. Finally, Legal & General Group Plc increased its stake in Inspire Medical Systems by 57.7% in the fourth quarter. Legal & General Group Plc now owns 1,843 shares of the company’s stock valued at $78,000 after purchasing an additional 674 shares during the period.
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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.
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