Inspire Medical Systems (NYSE:INSP) Trading Up 5.8%

Shares of Inspire Medical Systems, Inc. (NYSE:INSPGet Free Report) were up 5.8% during trading on Wednesday . The stock traded as high as $161.91 and last traded at $161.27. Approximately 315,000 shares changed hands during mid-day trading, a decline of 46% from the average daily volume of 587,570 shares. The stock had previously closed at $152.37.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on INSP. KeyCorp assumed coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price objective on the stock. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Bank of America downgraded Inspire Medical Systems from a “buy” rating to a “neutral” rating and lowered their price target for the company from $265.00 to $225.00 in a report on Wednesday, May 8th. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Piper Sandler lifted their price target on shares of Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, May 8th. Five equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $256.53.

Get Our Latest Stock Analysis on INSP

Inspire Medical Systems Price Performance

The stock has a market capitalization of $4.71 billion, a P/E ratio of -287.27 and a beta of 1.35. The stock’s fifty day moving average price is $208.97 and its 200 day moving average price is $190.59.

Inspire Medical Systems (NYSE:INSPGet Free Report) last released its quarterly earnings results on Tuesday, May 7th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.63) by $0.29. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The firm had revenue of $164.01 million during the quarter, compared to analyst estimates of $161.41 million. During the same period in the previous year, the company posted ($0.53) EPS. The business’s revenue for the quarter was up 28.2% compared to the same quarter last year. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 0.16 earnings per share for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total transaction of $109,719.70. Following the transaction, the director now owns 9,744 shares in the company, valued at approximately $1,929,799.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $198.05, for a total transaction of $109,719.70. Following the completion of the transaction, the director now owns 9,744 shares of the company’s stock, valued at approximately $1,929,799.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 64,141 shares of company stock valued at $13,397,203. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Inspire Medical Systems

Several institutional investors have recently bought and sold shares of the business. Raymond James & Associates increased its position in shares of Inspire Medical Systems by 10.8% during the third quarter. Raymond James & Associates now owns 5,767 shares of the company’s stock worth $1,144,000 after purchasing an additional 564 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Inspire Medical Systems by 47.9% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 2,849 shares of the company’s stock worth $565,000 after purchasing an additional 923 shares during the last quarter. NBC Securities Inc. purchased a new stake in Inspire Medical Systems in the 3rd quarter valued at about $34,000. Victory Capital Management Inc. lifted its position in Inspire Medical Systems by 47.6% in the third quarter. Victory Capital Management Inc. now owns 165,171 shares of the company’s stock valued at $32,777,000 after buying an additional 53,293 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Inspire Medical Systems by 1.5% during the third quarter. Arizona State Retirement System now owns 8,306 shares of the company’s stock worth $1,648,000 after buying an additional 124 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

(Get Free Report)

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.

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