Inspire Medical Systems (NYSE:INSP) Shares Up 33% – Should You Buy?

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) rose 33% during mid-day trading on Thursday . The stock traded as high as $70.52 and last traded at $78.8290. Approximately 1,108,412 shares were traded during mid-day trading, a decline of 15% from the average daily volume of 1,298,410 shares. The stock had previously closed at $59.25.

Analyst Ratings Changes

INSP has been the subject of several recent analyst reports. Jefferies Financial Group decreased their target price on Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Morgan Stanley set a $60.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, February 18th. UBS Group set a $67.00 price objective on shares of Inspire Medical Systems in a research report on Friday, February 13th. Wolfe Research downgraded Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a research note on Friday, February 13th. Finally, Royal Bank Of Canada cut their price target on Inspire Medical Systems from $90.00 to $68.00 and set a “sector perform” rating on the stock in a report on Thursday, February 12th. Five investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $104.82.

Inspire Medical Systems Trading Up 20.6%

The firm has a market capitalization of $2.04 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 2.85 and a beta of 0.74. The business has a 50-day moving average of $81.52 and a 200 day moving average of $88.22.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.Inspire Medical Systems’s revenue for the quarter was up 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.15 earnings per share. On average, sell-side analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Activity at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 2,000 shares of Inspire Medical Systems stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the completion of the transaction, the director directly owned 26,046 shares in the company, valued at approximately $3,320,344.08. The trade was a 7.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. CWM LLC lifted its holdings in shares of Inspire Medical Systems by 216.1% during the 4th quarter. CWM LLC now owns 354 shares of the company’s stock worth $33,000 after acquiring an additional 242 shares during the last quarter. Havemeyer Place LP bought a new stake in Inspire Medical Systems in the 4th quarter worth approximately $39,000. V Square Quantitative Management LLC purchased a new stake in Inspire Medical Systems in the fourth quarter worth approximately $40,000. Manning & Napier Advisors LLC purchased a new position in shares of Inspire Medical Systems during the third quarter worth approximately $32,000. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Inspire Medical Systems by 84.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after acquiring an additional 205 shares during the last quarter. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.