Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Rating of “Moderate Buy” by Analysts

by · The Cerbat Gem

Shares of Inspire Medical Systems, Inc. (NYSE:INSP – Get Free Report) have received an average rating of “Moderate Buy” from the twelve research firms that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $219.58.

A number of equities research analysts have recently issued reports on the stock. Truist Financial reaffirmed a “buy” rating and set a $240.00 price target (up previously from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Leerink Partners lifted their price objective on shares of Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Royal Bank of Canada reissued an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a report on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Finally, KeyCorp dropped their price objective on shares of Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th.

View Our Latest Stock Analysis on INSP

Insider Transactions at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 800 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the sale, the director now directly owns 23,140 shares in the company, valued at $5,090,800. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Shawn Mccormick sold 800 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Randy Ban sold 4,861 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,692 shares of company stock worth $1,099,207. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds have recently modified their holdings of INSP. SouthState Corp bought a new position in Inspire Medical Systems during the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its position in shares of Inspire Medical Systems by 1,158.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after purchasing an additional 139 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after purchasing an additional 151 shares in the last quarter. Quarry LP grew its stake in shares of Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock worth $46,000 after purchasing an additional 176 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $53,000. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Stock Up 1.0 %

Shares of INSP opened at $192.71 on Thursday. Inspire Medical Systems has a 52-week low of $123.00 and a 52-week high of $257.40. The firm has a market cap of $5.75 billion, a price-to-earnings ratio of 1,070.61 and a beta of 1.36. The business’s 50 day moving average is $201.15 and its two-hundred day moving average is $179.93.

Inspire Medical Systems (NYSE:INSP – Get Free Report) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.46. The firm had revenue of $195.89 million for the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a net margin of 0.85% and a return on equity of 1.03%. The firm’s revenue was up 29.6% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.41) EPS. On average, equities analysts expect that Inspire Medical Systems will post 0.75 earnings per share for the current fiscal year.

About Inspire Medical Systems

(Get Free Report

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.

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