Inspire Medical Systems (NYSE:INSP) Lowered to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Inspire Medical Systems (NYSE:INSP) from a strong-buy rating to a hold rating in a research note released on Tuesday morning,Zacks reports.

A number of other brokerages have also recently issued reports on INSP. Piper Sandler lifted their price objective on shares of Inspire Medical Systems from $55.00 to $60.00 and gave the company a “neutral” rating in a report on Tuesday, August 4th. Weiss Ratings raised Inspire Medical Systems from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday. Evercore set a $54.00 price target on shares of Inspire Medical Systems in a report on Tuesday, August 4th. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Finally, Freedom Capital raised shares of Inspire Medical Systems to a “strong-buy” rating in a report on Tuesday, June 30th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, twelve have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $66.50.

Inspire Medical Systems Stock Down 3.1%

NYSE:INSP opened at $69.07 on Tuesday. The company has a fifty day moving average of $60.79 and a 200-day moving average of $53.18. The firm has a market capitalization of $2.00 billion, a P/E ratio of 14.95, a P/E/G ratio of 5.39 and a beta of 0.70. Inspire Medical Systems has a twelve month low of $38.91 and a twelve month high of $147.03.

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

Insider Buying and Selling

In related news, insider Jason Kelly sold 963 shares of the business’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $59.55, for a total transaction of $57,346.65. Following the completion of the transaction, the insider owned 18,985 shares of the company’s stock, valued at approximately $1,130,556.75. The trade was a 4.83% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Inspire Medical Systems in the second quarter worth $211,341,000. Eventide Asset Management LLC boosted its stake in Inspire Medical Systems by 71.5% during the fourth quarter. Eventide Asset Management LLC now owns 440,205 shares of the company’s stock valued at $40,601,000 after buying an additional 183,547 shares during the period. Assenagon Asset Management S.A. grew its position 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 buying an additional 344,221 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Inspire Medical Systems by 21.7% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 546,020 shares of the company’s stock worth $24,358,000 after buying an additional 97,233 shares in the last quarter. Finally, Renaissance Technologies LLC increased its stake in Inspire Medical Systems by 14.4% in the 1st quarter. Renaissance Technologies LLC now owns 469,968 shares of the company’s stock worth $24,241,000 after acquiring an additional 59,200 shares during the last quarter. 94.91% of the stock is owned by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company’s primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.