Inspire Medical Systems (NYSE:INSP) Trading 5.4% Higher – Here’s What Happened

Inspire Medical Systems, Inc. (NYSE:INSP) was up 5.4% on Wednesday . The company traded as high as $64.25 and last traded at $65.5080. Approximately 148,769 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 1,075,850 shares. The stock had previously closed at $62.14.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Evercore set a $54.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Robert W. Baird upped their price objective on shares of Inspire Medical Systems from $54.00 to $59.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 4th. Stifel Nicolaus set a $75.00 target price on Inspire Medical Systems in a research note on Tuesday, August 4th. Royal Bank Of Canada restated a “sector perform” rating and issued a $60.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, August 4th. Finally, UBS Group started coverage on shares of Inspire Medical Systems in a research report on Tuesday, July 28th. They set a “sell” rating and a $39.00 target price on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, three have assigned a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $66.19.

Inspire Medical Systems Stock Performance

The business has a 50-day simple moving average of $56.60 and a two-hundred day simple moving average of $52.51. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 14.75, a P/E/G ratio of 5.05 and a beta of 0.70.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, August 3rd. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.24) by $0.38. Inspire Medical Systems had a return on equity of 8.64% and a net margin of 15.03%.The firm had revenue of $200.58 million during the quarter, compared to the consensus estimate of $194.72 million. During the same period last year, the company earned $0.45 earnings per share. The business’s revenue was down 7.6% compared to the same quarter last year. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. On average, analysts expect that Inspire Medical Systems, Inc. will post 1.24 earnings per share for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, insider Jason Kelly sold 963 shares of Inspire Medical Systems stock in a transaction on Friday, August 7th. The stock was sold at an average price of $59.55, for a total transaction of $57,346.65. Following the completion of the sale, the insider owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. This trade represents a 4.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors have recently modified their holdings of INSP. Alberta Investment Management Corp acquired a new position in shares of Inspire Medical Systems during the second quarter valued at about $5,483,000. Assenagon Asset Management S.A. boosted its holdings in Inspire Medical Systems by 66.2% during the second quarter. Assenagon Asset Management S.A. now owns 864,395 shares of the company’s stock worth $38,561,000 after purchasing an additional 344,221 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Inspire Medical Systems in the second quarter worth $820,000. Bank of Nova Scotia grew its position in shares of Inspire Medical Systems by 49.8% during the 1st quarter. Bank of Nova Scotia now owns 60,000 shares of the company’s stock valued at $3,095,000 after acquiring an additional 19,958 shares during the period. Finally, Legal & General Group Plc bought a new position in shares of Inspire Medical Systems during the 2nd quarter worth $2,732,000. 94.91% of the stock is currently owned by institutional investors.

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.