Zacks Investment Research upgraded shares of Inspire Medical Systems (NYSE:INSP) from a hold rating to a strong-buy rating in a report issued on Saturday morning, Zacks.com reports. They currently have $69.00 price objective on the stock.
According to Zacks, “Inspire Medical Systems Inc. is a medical technology company. It focused on the development and commercialization of solutions for obstructive sleep apnea. The company’s proprietary Inspire therapy is a neurostimulation technology which provides treatment for moderate to severe obstructive sleep apnea. Inspire Medical Systems Inc.is based in Minnesota, United States. “
A number of other equities research analysts have also weighed in on INSP. Berenberg Bank upgraded Inspire Medical Systems from a sell rating to a hold rating and boosted their price target for the stock from $46.00 to $51.00 in a research note on Wednesday. ValuEngine lowered Inspire Medical Systems from a hold rating to a sell rating in a research note on Thursday, October 31st. Finally, Dougherty & Co set a $78.00 price target on Inspire Medical Systems and gave the stock a buy rating in a research note on Friday, September 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Inspire Medical Systems has a consensus rating of Hold and an average target price of $68.25.
Shares of INSP stock traded up $4.31 during trading hours on Friday, reaching $64.05. 405,533 shares of the company’s stock were exchanged, compared to its average volume of 306,413. Inspire Medical Systems has a 1 year low of $35.43 and a 1 year high of $71.71. The stock has a market cap of $1.45 billion, a PE ratio of -42.70 and a beta of 1.22. The company has a current ratio of 20.46, a quick ratio of 20.05 and a debt-to-equity ratio of 0.16. The stock’s fifty day moving average price is $58.89 and its two-hundred day moving average price is $60.15.
Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Tuesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.09. Inspire Medical Systems had a negative return on equity of 18.32% and a negative net margin of 40.36%. The business had revenue of $20.86 million for the quarter, compared to analyst estimates of $19.15 million. During the same quarter in the previous year, the firm earned ($0.22) earnings per share. The company’s revenue was up 59.8% on a year-over-year basis. On average, equities analysts expect that Inspire Medical Systems will post -1.55 EPS for the current fiscal year.
In related news, CEO Timothy P. Herbert sold 25,000 shares of Inspire Medical Systems stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $58.61, for a total transaction of $1,465,250.00. Also, insider Randy Ban sold 19,300 shares of the business’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $59.16, for a total value of $1,141,788.00. Insiders have sold 191,790 shares of company stock valued at $12,433,812 in the last ninety days. Corporate insiders own 12.10% of the company’s stock.
A number of large investors have recently made changes to their positions in INSP. Invesco Ltd. lifted its holdings in Inspire Medical Systems by 279.8% in the second quarter. Invesco Ltd. now owns 965,710 shares of the company’s stock valued at $58,570,000 after acquiring an additional 711,435 shares during the period. Wasatch Advisors Inc. grew its holdings in Inspire Medical Systems by 217.7% in the 2nd quarter. Wasatch Advisors Inc. now owns 680,874 shares of the company’s stock valued at $41,295,000 after buying an additional 466,590 shares in the last quarter. BlackRock Inc. grew its holdings in Inspire Medical Systems by 43.5% in the 2nd quarter. BlackRock Inc. now owns 1,406,301 shares of the company’s stock valued at $85,293,000 after buying an additional 426,425 shares in the last quarter. Columbus Circle Investors grew its holdings in Inspire Medical Systems by 171.7% in the 2nd quarter. Columbus Circle Investors now owns 635,211 shares of the company’s stock valued at $38,526,000 after buying an additional 401,457 shares in the last quarter. Finally, Bamco Inc. NY grew its holdings in Inspire Medical Systems by 228.2% in the 2nd quarter. Bamco Inc. NY now owns 339,970 shares of the company’s stock valued at $20,619,000 after buying an additional 236,372 shares in the last quarter. 83.05% 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). 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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