Inspire Medical Systems (NYSE:INSP) Shares Down 3.7%

Inspire Medical Systems, Inc. (NYSE:INSP) fell 3.7% on Tuesday . The company traded as low as $208.25 and last traded at $208.64. 208,778 shares were traded during mid-day trading, a decline of 66% from the average session volume of 621,392 shares. The stock had previously closed at $216.71.

Wall Street Analyst Weigh In

INSP has been the topic of a number of research analyst reports. Leerink Partners increased their target price on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a research note on Tuesday, September 10th. Stifel Nicolaus decreased their price objective on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating on the stock in a report on Monday, June 24th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. KeyCorp decreased their price target 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. Finally, Morgan Stanley cut their price objective on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, Inspire Medical Systems presently has a consensus rating of “Moderate Buy” and an average target price of $214.85.

Inspire Medical Systems Stock Performance

The firm has a 50-day moving average price of $178.04 and a 200-day moving average price of $182.08. The stock has a market cap of $6.17 billion, a PE ratio of -394.02 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of ($0.14) by $0.46. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The company had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the firm posted ($0.41) earnings per share. Inspire Medical Systems’s revenue was up 29.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post 0.75 EPS for the current fiscal year.

Insider Buying and Selling at Inspire Medical Systems

In other Inspire Medical Systems news, insider Randy Ban sold 4,861 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Inspire Medical Systems 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 transaction of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at approximately $5,090,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the completion of the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,692 shares of company stock valued at $1,099,207. Insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Inspire Medical Systems

Large investors have recently modified their holdings of the stock. SouthState Corp purchased a new position in shares of Inspire Medical Systems during the second quarter valued at approximately $27,000. Quarry LP grew its position in Inspire Medical Systems by 105.4% in the 2nd quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Inspire Medical Systems during the second quarter valued at $53,000. RiverPark Advisors LLC increased its stake 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 buying an additional 605 shares during the period. Finally, Van ECK Associates Corp lifted its holdings in Inspire Medical Systems by 7.5% during the 2nd quarter. Van ECK Associates Corp now owns 1,029 shares of the company’s stock valued at $138,000 after buying an additional 72 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.