Inspire Medical Systems (NYSE:INSP) Receives “Buy” Rating from Mizuho

Inspire Medical Systems (NYSE:INSP)‘s stock had its “buy” rating restated by Mizuho in a report issued on Wednesday, Benzinga reports. They presently have a $250.00 price objective on the stock. Mizuho’s price objective would suggest a potential upside of 17.00% from the stock’s current price.

A number of other brokerages also recently issued reports on INSP. KeyCorp started coverage on Inspire Medical Systems in a report on Tuesday, February 6th. They set an “overweight” rating and a $278.00 price target on the stock. Morgan Stanley started coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price target on the stock. Stifel Nicolaus reissued a “hold” rating and set a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Four 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.29.

Inspire Medical Systems Stock Performance

INSP traded up $5.40 during trading on Wednesday, reaching $213.67. The stock had a trading volume of 219,346 shares, compared to its average volume of 516,600. The business has a 50-day moving average of $197.27 and a 200-day moving average of $181.08. Inspire Medical Systems has a one year low of $123.27 and a one year high of $330.00. The stock has a market cap of $6.47 billion, a PE ratio of -288.30 and a beta of 1.35.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The company had revenue of $192.51 million for the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. Inspire Medical Systems’s revenue for the quarter was up 39.6% compared to the same quarter last year. During the same period last year, the firm posted $0.10 EPS. Equities research analysts forecast that Inspire Medical Systems will post -0.35 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Jerry C. Griffin sold 554 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the transaction, the director now owns 9,744 shares of the company’s stock, valued at $1,929,799.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Randy Ban sold 3,060 shares of the company’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares of the company’s stock, valued at approximately $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Jerry C. Griffin sold 554 shares of the business’s stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the transaction, the director now owns 9,744 shares in the company, valued at $1,929,799.20. The disclosure for this sale can be found here. Insiders sold 20,785 shares of company stock valued at $3,893,794 over the last 90 days. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in INSP. Wellington Management Group LLP grew its stake in Inspire Medical Systems by 72.8% during the third quarter. Wellington Management Group LLP now owns 976,972 shares of the company’s stock valued at $193,870,000 after acquiring an additional 411,480 shares in the last quarter. Seven Eight Capital LP bought a new stake in shares of Inspire Medical Systems in the third quarter worth about $1,558,000. Charles Schwab Investment Management Inc. lifted its position in shares of Inspire Medical Systems by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 256,222 shares of the company’s stock worth $50,845,000 after buying an additional 7,838 shares in the last quarter. SG Americas Securities LLC bought a new position in Inspire Medical Systems during the third quarter valued at approximately $1,452,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Inspire Medical Systems by 29.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 40,200 shares of the company’s stock worth $7,977,000 after acquiring an additional 9,200 shares in the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

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.