Inspire Medical Systems (NYSE:INSP) Upgraded to “Strong-Buy” at Zacks Research

Inspire Medical Systems (NYSE:INSP) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the company. Truist Financial cut their price target on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a report on Thursday, February 12th. Royal Bank Of Canada decreased their price objective 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. Oppenheimer cut Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research report on Thursday, January 22nd. Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the company a “neutral” rating in a research note on Thursday, February 12th. Finally, Morgan Stanley set a $60.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $104.24.

Inspire Medical Systems Price Performance

NYSE INSP opened at $52.20 on Monday. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 10.48, a P/E/G ratio of 2.56 and a beta of 0.74. The company’s fifty day moving average is $68.06 and its two-hundred day moving average is $84.21. Inspire Medical Systems has a 52-week low of $50.50 and a 52-week high of $172.95.

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

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds have recently modified their holdings of the stock. Rockefeller Capital Management L.P. boosted its stake in Inspire Medical Systems by 14.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 5,712 shares of the company’s stock valued at $527,000 after buying an additional 739 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Inspire Medical Systems in the fourth quarter valued at $354,000. Caitong International Asset Management Co. Ltd raised its stake in Inspire Medical Systems by 291.9% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 4,233 shares of the company’s stock worth $390,000 after acquiring an additional 3,153 shares in the last quarter. Virtu Financial LLC raised its stake in Inspire Medical Systems by 40.2% during the fourth quarter. Virtu Financial LLC now owns 5,712 shares of the company’s stock worth $527,000 after acquiring an additional 1,639 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Inspire Medical Systems by 181.7% during the fourth quarter. Invesco Ltd. now owns 261,374 shares of the company’s stock valued at $24,107,000 after acquiring an additional 168,587 shares during the period. 94.91% of the stock is owned by institutional investors and hedge funds.

About Inspire Medical Systems

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.