Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Rating of “Moderate Buy” from Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has received an average recommendation of “Moderate Buy” from the fourteen brokerages that are currently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $216.62.

A number of brokerages have recently issued reports on INSP. Robert W. Baird dropped their target price on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Truist Financial restated a “buy” rating and issued a $240.00 price target (up from $217.00) on shares of Inspire Medical Systems in a research report on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a research note on Wednesday, August 7th. Leerink Partners raised their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. Finally, KeyCorp lowered their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th.

Insider Buying and Selling at Inspire Medical Systems

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

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its holdings in Inspire Medical Systems by 46.4% in the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock valued at $290,959,000 after acquiring an additional 453,294 shares during the period. Frontier Capital Management Co. LLC boosted its position in shares of Inspire Medical Systems by 105.2% in the fourth quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock valued at $150,954,000 after acquiring an additional 380,362 shares during the period. Baillie Gifford & Co. increased its position in Inspire Medical Systems by 19.3% during the first quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock worth $315,229,000 after acquiring an additional 237,734 shares during the period. Bank of New York Mellon Corp raised its stake in Inspire Medical Systems by 32.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after purchasing an additional 192,238 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Inspire Medical Systems by 51.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Stock Up 4.8 %

Shares of INSP stock opened at $214.93 on Friday. The business’s 50 day moving average is $190.48 and its two-hundred day moving average is $182.98. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The company has a market cap of $6.39 billion, a PE ratio of -390.78 and a beta of 1.34.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (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 analyst estimates of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The company’s revenue was up 29.6% on a year-over-year basis. During the same quarter last year, the firm posted ($0.41) EPS. As a group, equities analysts expect that Inspire Medical Systems will post 0.75 EPS 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.