Inspire Medical Systems (NYSE:INSP) Posts Quarterly Earnings Results

Inspire Medical Systems (NYSE:INSP) announced its quarterly earnings data on Wednesday. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.95, Zacks reports. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.

Inspire Medical Systems Stock Up 0.5%

Shares of Inspire Medical Systems stock traded up $0.36 on Wednesday, hitting $68.50. The stock had a trading volume of 2,269,849 shares, compared to its average volume of 1,262,076. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 46.60, a price-to-earnings-growth ratio of 6.69 and a beta of 0.74. Inspire Medical Systems has a twelve month low of $64.46 and a twelve month high of $197.75. The business’s 50 day moving average is $97.37 and its two-hundred day moving average is $91.87.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, Director Shawn Mccormick sold 2,000 shares of the company’s stock in a transaction on Friday, November 28th. The stock was sold at an average price of $127.48, for a total value of $254,960.00. Following the transaction, the director directly owned 26,046 shares of the company’s stock, valued at $3,320,344.08. This represents a 7.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.30% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

Institutional investors have recently bought and sold shares of the business. Larson Financial Group LLC grew its position 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 purchasing an additional 638 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in shares of Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock valued at $60,000 after buying an additional 130 shares during the period. Parallel Advisors LLC grew its position in Inspire Medical Systems by 349.7% during the fourth quarter. Parallel Advisors LLC now owns 715 shares of the company’s stock worth $66,000 after buying an additional 556 shares in the last quarter. State of Wyoming grew its position in Inspire Medical Systems by 31.5% during the fourth quarter. State of Wyoming now owns 731 shares of the company’s stock worth $67,000 after buying an additional 175 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd increased its stake in Inspire Medical Systems by 5,300.0% during the 3rd quarter. Caitong International Asset Management Co. Ltd now owns 1,080 shares of the company’s stock worth $80,000 after acquiring an additional 1,060 shares during the period. Institutional investors own 94.91% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INSP shares. KeyCorp restated a “sector weight” rating on shares of Inspire Medical Systems in a report on Tuesday, November 4th. Morgan Stanley restated an “equal weight” rating and set a $130.00 price objective (up from $105.00) on shares of Inspire Medical Systems in a research note on Tuesday, December 2nd. Wolfe Research raised shares of Inspire Medical Systems from a “peer perform” rating to an “outperform” rating and set a $180.00 target price on the stock in a report on Tuesday, November 25th. Jefferies Financial Group reiterated a “hold” rating and issued a $85.00 target price (down from $160.00) on shares of Inspire Medical Systems in a research note on Friday, October 24th. Finally, Truist Financial downgraded Inspire Medical Systems from a “buy” rating to a “hold” rating and set a $96.00 price target on the stock. in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of “Hold” and a consensus price target of $133.47.

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.