Inspire Medical Systems (NYSE:INSP) Shares Gap Down to $181.00

Inspire Medical Systems, Inc. (NYSE:INSPGet Rating)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $181.00, but opened at $176.72. Inspire Medical Systems shares last traded at $175.50, with a volume of 5 shares changing hands.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Piper Sandler cut their price target on shares of Inspire Medical Systems from $310.00 to $285.00 and set an “overweight” rating on the stock in a report on Wednesday, August 3rd. Truist Financial cut their price target on shares of Inspire Medical Systems from $296.00 to $250.00 and set a “buy” rating on the stock in a report on Friday, June 10th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $283.83.

Inspire Medical Systems Trading Down 5.7 %

The stock has a market cap of $4.72 billion, a P/E ratio of -104.83 and a beta of 1.57. The company has a current ratio of 5.62, a quick ratio of 5.15 and a debt-to-equity ratio of 0.04. The stock’s fifty day moving average price is $204.82 and its 200 day moving average price is $205.94.

Inspire Medical Systems (NYSE:INSPGet Rating) last posted its quarterly earnings results on Tuesday, August 2nd. The company reported ($0.53) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.59) by $0.06. The firm had revenue of $91.39 million during the quarter, compared to analyst estimates of $79.10 million. Inspire Medical Systems had a negative return on equity of 19.49% and a negative net margin of 14.60%. Equities research analysts expect that Inspire Medical Systems, Inc. will post -2.58 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of hedge funds have recently bought and sold shares of the business. Tradition Wealth Management LLC raised its position in Inspire Medical Systems by 8.4% in the 2nd quarter. Tradition Wealth Management LLC now owns 648 shares of the company’s stock worth $118,000 after buying an additional 50 shares during the last quarter. Arizona State Retirement System raised its position in Inspire Medical Systems by 0.7% in the 1st quarter. Arizona State Retirement System now owns 7,395 shares of the company’s stock worth $1,898,000 after buying an additional 55 shares during the last quarter. Prospera Financial Services Inc raised its position in Inspire Medical Systems by 2.7% in the 1st quarter. Prospera Financial Services Inc now owns 2,157 shares of the company’s stock worth $554,000 after buying an additional 57 shares during the last quarter. Rockefeller Capital Management L.P. raised its position in Inspire Medical Systems by 80.0% in the 4th quarter. Rockefeller Capital Management L.P. now owns 144 shares of the company’s stock worth $33,000 after buying an additional 64 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its position in Inspire Medical Systems by 7.1% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 1,118 shares of the company’s stock worth $204,000 after buying an additional 74 shares during the last quarter. Hedge funds and other institutional investors own 98.89% of the company’s stock.

Inspire Medical Systems Company Profile

(Get Rating)

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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