Inspire Medical Systems (NYSE:INSP) Hits New 1-Year Low – Time to Sell?

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $48.78 and last traded at $48.7420, with a volume of 16523 shares traded. The stock had previously closed at $50.13.

Analysts Set New Price Targets

A number of brokerages have weighed in on INSP. Truist Financial reduced their price objective on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating for the company in a research note on Thursday, February 12th. Jefferies Financial Group lowered their target price on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a research report on Monday, December 29th. Finally, Zacks Research upgraded shares of Inspire Medical Systems from a “hold” rating to a “strong-buy” rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $104.24.

Inspire Medical Systems Stock Performance

The business has a 50-day simple moving average of $63.76 and a two-hundred day simple moving average of $83.13. The company has a market capitalization of $1.48 billion, a price-to-earnings ratio of 10.33, a PEG ratio of 2.47 and a beta of 0.74.

Inspire Medical Systems (NYSE:INSP) last released its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The business had revenue of $269.08 million for the quarter, compared to analyst estimates of $264.02 million. During the same quarter in the previous year, the company posted $1.15 earnings per share. The company’s revenue for the quarter was up 12.2% compared to the same quarter last year. Research analysts predict that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Hedge funds have recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its position in Inspire Medical Systems by 42.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 40,042 shares of the company’s stock worth $5,196,000 after purchasing an additional 11,892 shares during the period. Y Intercept Hong Kong Ltd raised its stake in shares of Inspire Medical Systems by 553.1% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 99,049 shares of the company’s stock worth $7,349,000 after buying an additional 83,883 shares in the last quarter. CW Advisors LLC lifted its holdings in shares of Inspire Medical Systems by 45.3% in the 2nd quarter. CW Advisors LLC now owns 49,960 shares of the company’s stock valued at $6,484,000 after buying an additional 15,576 shares during the period. Illinois Municipal Retirement Fund boosted its stake in shares of Inspire Medical Systems by 262.0% in the third quarter. Illinois Municipal Retirement Fund now owns 25,424 shares of the company’s stock valued at $1,886,000 after buying an additional 18,400 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Inspire Medical Systems in the second quarter valued at approximately $31,066,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Company Profile

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.