Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Recommendation of “Hold” from Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has earned an average recommendation of “Hold” from the nineteen brokerages that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $133.4706.

Several equities research analysts have issued reports on INSP shares. KeyCorp reaffirmed a “sector weight” rating on shares of Inspire Medical Systems in a research note on Tuesday, November 4th. Morgan Stanley reissued an “equal weight” rating and set a $130.00 price objective (up previously from $105.00) on shares of Inspire Medical Systems in a research note on Tuesday, December 2nd. Mizuho lifted their target price on shares of Inspire Medical Systems from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 17th. Weiss Ratings reiterated a “sell (d)” rating on shares of Inspire Medical Systems in a report on Monday, December 29th. Finally, Zacks Research raised Inspire Medical Systems from a “strong sell” rating to a “hold” rating in a research note on Monday, October 27th.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $75.49 on Friday. Inspire Medical Systems has a fifty-two week low of $70.77 and a fifty-two week high of $203.12. The company has a market capitalization of $2.19 billion, a price-to-earnings ratio of 51.35, a PEG ratio of 7.92 and a beta of 0.72. The stock has a fifty day moving average of $105.55 and a two-hundred day moving average of $95.27.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.53. The business had revenue of $224.50 million for the quarter, compared to the consensus estimate of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The business’s revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. On average, analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the sale, the director directly owned 26,046 shares of the company’s stock, valued at approximately $3,320,344.08. This trade represents a 7.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.10% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Manning & Napier Advisors LLC acquired a new stake in shares of Inspire Medical Systems in the third quarter worth approximately $32,000. CWM LLC boosted its holdings in shares of Inspire Medical Systems by 216.1% in the 4th quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after purchasing an additional 242 shares during the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Inspire Medical Systems during the 4th quarter valued at $40,000. Larson Financial Group LLC increased its holdings in shares of Inspire Medical Systems by 21,266.7% during the 3rd quarter. Larson Financial Group LLC now owns 641 shares of the company’s stock worth $48,000 after buying an additional 638 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of Inspire Medical Systems during the 3rd quarter worth $49,000. 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.