Inspire Medical Systems (NYSE:INSP) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Inspire Medical Systems (NYSE:INSP) from a hold rating to a strong-buy rating in a report published on Monday,Zacks.com reports.

INSP has been the subject of several other reports. Wells Fargo & Company set a $70.00 price target on shares of Inspire Medical Systems and gave the company an “equal weight” rating in a report on Thursday, February 12th. Jefferies Financial Group decreased their price objective on shares of Inspire Medical Systems from $81.00 to $66.00 and set a “hold” rating on the stock in a research note on Thursday, February 12th. Stifel Nicolaus dropped their price objective on shares of Inspire Medical Systems from $95.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, March 5th. Oppenheimer cut shares of Inspire Medical Systems from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 22nd. Finally, Wolfe Research downgraded Inspire Medical Systems from an “outperform” rating to a “peer perform” rating in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.24.

Inspire Medical Systems Price Performance

Inspire Medical Systems stock opened at $52.20 on Monday. The firm has a market capitalization of $1.50 billion, a P/E ratio of 10.48, a P/E/G ratio of 2.56 and a beta of 0.74. The stock has a fifty day moving average price of $68.06 and a two-hundred day moving average price of $84.21. Inspire Medical Systems has a 52-week low of $50.50 and a 52-week high of $172.95.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating the consensus estimate 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 company had revenue of $269.08 million for the quarter, compared to the consensus estimate of $264.02 million. During the same quarter in the previous year, the company earned $1.15 EPS. The firm’s revenue for the quarter was up 12.2% compared to the same quarter last year. On average, equities research analysts predict that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manning & Napier Advisors LLC acquired a new position in shares of Inspire Medical Systems during the third quarter worth approximately $32,000. CWM LLC increased its holdings in shares of Inspire Medical Systems by 216.1% in the fourth quarter. CWM LLC now owns 354 shares of the company’s stock valued at $33,000 after purchasing an additional 242 shares in the last quarter. Havemeyer Place LP bought a new position in Inspire Medical Systems in the 4th quarter worth approximately $39,000. V Square Quantitative Management LLC bought a new position in Inspire Medical Systems in the 4th quarter worth approximately $40,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company’s stock worth $42,000 after buying 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.