Inspire Medical Systems (NYSE:INSP) Sets New 12-Month Low – Here’s Why

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) hit a new 52-week low during mid-day trading on Monday . The company traded as low as $48.78 and last traded at $48.7420, with a volume of 16523 shares. The stock had previously closed at $50.13.

Analysts Set New Price Targets

Several equities research analysts have recently commented on INSP shares. JPMorgan Chase & Co. lifted their target price on Inspire Medical Systems from $82.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, December 16th. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, March 5th. Piper Sandler decreased their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a research report on Thursday, February 12th. Truist Financial dropped their price target on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Finally, UBS Group set a $67.00 target price on Inspire Medical Systems in a research note on Friday, February 13th. One research 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 issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $104.24.

Inspire Medical Systems Stock Down 1.6%

The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.46 and a beta of 0.74. The stock has a 50 day moving average of $65.46 and a 200 day moving average of $83.57.

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

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Xponance Inc. increased its stake in shares of Inspire Medical Systems by 2.9% in the 3rd quarter. Xponance Inc. now owns 4,177 shares of the company’s stock valued at $310,000 after purchasing an additional 116 shares during the last quarter. Daiwa Securities Group Inc. boosted its stake in Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after buying an additional 130 shares in the last quarter. Choreo LLC grew its position in Inspire Medical Systems by 9.8% in the second quarter. Choreo LLC now owns 1,877 shares of the company’s stock valued at $244,000 after acquiring an additional 168 shares during the last quarter. State of Wyoming raised its stake in Inspire Medical Systems by 31.5% during the fourth quarter. State of Wyoming now owns 731 shares of the company’s stock worth $67,000 after acquiring an additional 175 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in shares of Inspire Medical Systems by 84.0% in the fourth 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. 94.91% of the stock is currently owned by institutional investors.

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.