Inspire Medical Systems (NYSE:INSP) Shares Down 3.6%

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price was down 3.6% on Monday . The company traded as low as $220.62 and last traded at $220.90. Approximately 170,298 shares were traded during mid-day trading, a decline of 68% from the average daily volume of 531,891 shares. The stock had previously closed at $229.22.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on INSP shares. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective for the company. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Mizuho reaffirmed a “buy” rating and set a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Truist Financial reaffirmed a “buy” rating and set a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Morgan Stanley started coverage on shares of Inspire Medical Systems in a research report on Tuesday, March 19th. They set an “overweight” rating and a $250.00 price target for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $272.20.

Inspire Medical Systems Stock Up 3.9 %

The firm’s 50-day moving average price is $205.03 and its 200-day moving average price is $184.73.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company had revenue of $192.51 million during the quarter, compared to analyst estimates of $186.75 million. During the same quarter in the prior year, the business earned $0.10 earnings per share. The business’s quarterly revenue was up 39.6% compared to the same quarter last year. Research analysts forecast that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the sale, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Jerry C. Griffin sold 554 shares of the company’s stock in a transaction 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 completion of the transaction, the director now directly owns 9,744 shares in the company, valued at $1,929,799.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Timothy P. Herbert sold 40,000 shares of the company’s stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock valued at $15,664,278 over the last 90 days. Corporate insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Inspire Medical Systems in the fourth quarter valued at $27,000. NBC Securities Inc. bought a new position in Inspire Medical Systems during the 3rd quarter valued at $34,000. Arcadia Investment Management Corp MI boosted its stake in Inspire Medical Systems by 44.5% during the 3rd quarter. Arcadia Investment Management Corp MI now owns 224 shares of the company’s stock valued at $44,000 after acquiring an additional 69 shares during the last quarter. RiverPark Advisors LLC bought a new position in Inspire Medical Systems during the 3rd quarter valued at $44,000. Finally, Headinvest LLC bought a new position in Inspire Medical Systems during the 3rd quarter valued at $48,000. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

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.