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

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price reached a new 52-week low during trading on Monday . The company traded as low as $51.59 and last traded at $52.8650, with a volume of 85898 shares trading hands. The stock had previously closed at $53.72.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wells Fargo & Company set a $70.00 target price on shares of Inspire Medical Systems and gave the company an “equal weight” rating in a research note on Thursday, February 12th. Truist Financial decreased their price target on Inspire Medical Systems from $96.00 to $70.00 and set a “hold” rating on the stock in a research report on Thursday, February 12th. Piper Sandler dropped their price target on Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Morgan Stanley set a $60.00 price objective on Inspire Medical Systems in a research report on Wednesday, February 18th. Finally, Robert W. Baird set a $74.00 target price on Inspire Medical Systems and gave the stock a “neutral” rating in a report on Thursday, February 12th. Five research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Inspire Medical Systems has a consensus rating of “Hold” and an average price target of $104.24.

Inspire Medical Systems Trading Up 0.1%

The company has a market capitalization of $1.54 billion, a P/E ratio of 10.69, a PEG ratio of 2.66 and a beta of 0.74. The business has a 50 day moving average price of $69.76 and a 200 day moving average price of $84.69.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data 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 net margin of 15.95% and a return on equity of 10.96%. The firm had revenue of $269.08 million during the quarter, compared to analysts’ expectations of $264.02 million. During the same quarter in the previous year, the company earned $1.15 earnings per share. The business’s revenue for the quarter was up 12.2% on a year-over-year basis. On average, analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Institutional Trading of Inspire Medical Systems

A number of hedge funds and other institutional investors have recently modified their holdings of INSP. Manning & Napier Advisors LLC bought a new position in Inspire Medical Systems in the 3rd quarter valued at about $32,000. CWM LLC raised its position 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 buying an additional 242 shares in the last quarter. Havemeyer Place LP acquired a new position in Inspire Medical Systems during the fourth quarter valued at approximately $39,000. V Square Quantitative Management LLC bought a new stake in shares of Inspire Medical Systems during the 4th quarter worth $40,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Inspire Medical Systems by 84.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock valued at $42,000 after purchasing an additional 205 shares in the last quarter. Institutional investors and hedge funds own 94.91% of the company’s stock.

About Inspire Medical Systems

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.