Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $251.20.

Several research analysts have issued reports on the stock. Bank of America dropped their target price on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Mizuho reissued a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Royal Bank of Canada initiated coverage on shares of Inspire Medical Systems in a research report on Friday, April 19th. They set an “outperform” rating and a $285.00 price target for the company. Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target for the company. Finally, Truist Financial reissued a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th.

Insider Activity

In related news, CFO Richard Buchholz sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the transaction, the chief financial officer now directly owns 28,271 shares of the company’s stock, valued at approximately $6,503,178.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold 55,032 shares of company stock valued at $11,660,898 in the last three months. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in INSP. McGlone Suttner Wealth Management Inc. acquired a new position in Inspire Medical Systems during the fourth quarter valued at $27,000. Headinvest LLC acquired a new position in Inspire Medical Systems in the 3rd quarter worth about $48,000. Principal Securities Inc. acquired a new position in Inspire Medical Systems in the 4th quarter worth about $54,000. International Assets Investment Management LLC acquired a new position in Inspire Medical Systems in the 4th quarter worth about $166,000. Finally, RiverPark Advisors LLC increased its position in Inspire Medical Systems by 360.1% in the 1st quarter. RiverPark Advisors LLC now owns 773 shares of the company’s stock worth $166,000 after purchasing an additional 605 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Down 1.9 %

Inspire Medical Systems stock opened at $135.33 on Friday. The company has a market cap of $4.02 billion, a price-to-earnings ratio of -246.05 and a beta of 1.33. The firm’s fifty day moving average is $178.95 and its 200 day moving average is $192.58. Inspire Medical Systems has a 52-week low of $123.27 and a 52-week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last announced its earnings results on Tuesday, May 7th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.63) by $0.29. The business had revenue of $164.01 million for the quarter, compared to the consensus estimate of $161.41 million. Inspire Medical Systems had a negative net margin of 2.38% and a negative return on equity of 2.82%. The business’s revenue for the quarter was up 28.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.53) earnings per share. On average, equities research analysts anticipate that Inspire Medical Systems will post 0.16 earnings per share for the current fiscal year.

About Inspire Medical Systems

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.