Inspire Medical Systems (NYSE:INSP) Shares Gap Down on Analyst Downgrade

Inspire Medical Systems, Inc. (NYSE:INSP)’s share price gapped down prior to trading on Tuesday after Truist Financial lowered their price target on the stock from $250.00 to $235.00. The stock had previously closed at $180.99, but opened at $170.49. Truist Financial currently has a buy rating on the stock. Inspire Medical Systems shares last traded at $176.04, with a volume of 233,297 shares changing hands.

Other research analysts have also issued research reports about the stock. Piper Sandler reduced their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating on the stock in a research note on Monday. Robert W. Baird reduced their price objective on shares of Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday. Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. KeyCorp restated an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research report on Friday, January 24th. Finally, Morgan Stanley dropped their price objective on Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating for the company in a report on Tuesday. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Inspire Medical Systems has an average rating of “Moderate Buy” and an average target price of $228.82.

Institutional Investors Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock worth $26,000 after acquiring an additional 124 shares in the last quarter. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the 3rd quarter valued at $30,000. Farther Finance Advisors LLC increased its stake in Inspire Medical Systems by 1,158.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC lifted its position in Inspire Medical Systems by 559.3% during the 3rd quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock worth $38,000 after buying an additional 151 shares in the last quarter. Finally, Harbour Investments Inc. boosted its stake in shares of Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after buying an additional 99 shares during the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

The company has a fifty day moving average price of $189.57 and a two-hundred day moving average price of $190.98. The company has a market cap of $5.49 billion, a P/E ratio of 171.18 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a return on equity of 5.30% and a net margin of 4.37%. Research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 EPS for the current year.

Inspire Medical Systems Company Profile

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.