Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned an average rating of “Moderate Buy” from the thirteen ratings firms that are presently covering the company, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $271.29.

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 target price for the company. Mizuho reissued a “buy” rating and issued a $250.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Stifel Nicolaus reissued a “hold” rating and issued a $210.00 target price on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Truist Financial reissued a “buy” rating and issued a $280.00 target price on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Finally, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price for the company.

Inspire Medical Systems Stock Down 1.0 %

NYSE INSP opened at $241.12 on Friday. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00. The firm has a market capitalization of $7.31 billion, a P/E ratio of -325.84 and a beta of 1.37. The company has a 50-day moving average price of $202.84 and a 200-day moving average price of $183.76.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.53. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The firm had revenue of $192.51 million during the quarter, compared to analyst estimates of $186.75 million. During the same quarter in the prior year, the firm earned $0.10 EPS. The business’s revenue for the quarter was up 39.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Inspire Medical Systems will post -0.35 EPS for the current year.

Insiders Place Their Bets

In other Inspire Medical Systems news, CFO Richard Buchholz sold 15,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total value of $3,450,450.00. Following the completion of the transaction, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now directly owns 28,271 shares in the company, valued at approximately $6,503,178.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the transaction, the chief executive officer now owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders sold 76,371 shares of company stock worth $15,664,278 in the last three months. 4.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Commonwealth Equity Services LLC boosted its position in shares of Inspire Medical Systems by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock valued at $1,585,000 after acquiring an additional 36 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its position in shares of Inspire Medical Systems by 2.3% during the 4th quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock valued at $437,000 after acquiring an additional 39 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of Inspire Medical Systems by 3.9% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,122 shares of the company’s stock valued at $364,000 after acquiring an additional 42 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Inspire Medical Systems by 3.7% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,200 shares of the company’s stock valued at $390,000 after acquiring an additional 43 shares during the last quarter. Finally, Pathstone Family Office LLC boosted its position in shares of Inspire Medical Systems by 2.7% during the 3rd quarter. Pathstone Family Office LLC now owns 2,273 shares of the company’s stock valued at $403,000 after acquiring an additional 59 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc, a medical technology company, focuses on the development and commercialization of minimally invasive solutions for patients with obstructive sleep apnea (OSA) in the United States and internationally. The company offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe OSA.