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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have earned a consensus rating of “Moderate Buy” from the fourteen analysts that are presently covering the firm, Marketbeat.com reports. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $216.62.

A number of brokerages recently weighed in on INSP. Robert W. Baird reduced their price objective on Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $260.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, August 7th. Morgan Stanley decreased their price target on shares of Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. KeyCorp lowered their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus decreased their price target on Inspire Medical Systems from $210.00 to $170.00 and set a “hold” rating for the company in a research note on Monday, June 24th.

Insider Buying and Selling at Inspire Medical Systems

In related news, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $188.55, for a total transaction of $916,541.55. Following the transaction, the insider now owns 3,056 shares of the company’s stock, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Inspire Medical Systems news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $220.00, for a total value of $176,000.00. Following the completion of the transaction, the director now owns 23,140 shares in the company, valued at $5,090,800. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Randy Ban sold 4,861 shares of Inspire Medical Systems stock in a transaction on Friday, August 16th. The stock was sold at an average price of $188.55, for a total value of $916,541.55. Following the sale, the insider now owns 3,056 shares in the company, valued at $576,208.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,692 shares of company stock worth $1,099,207. 4.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Large investors have recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its holdings in Inspire Medical Systems by 176,312.5% in the 1st quarter. Massmutual Trust Co. FSB ADV now owns 14,113 shares of the company’s stock worth $3,031,000 after buying an additional 14,105 shares during the period. Bullseye Asset Management LLC grew its stake in Inspire Medical Systems by 119.6% during the fourth quarter. Bullseye Asset Management LLC now owns 27,199 shares of the company’s stock valued at $5,534,000 after acquiring an additional 14,812 shares in the last quarter. Private Ocean LLC purchased a new stake in Inspire Medical Systems in the 1st quarter worth approximately $2,738,000. Russell Investments Group Ltd. grew its position in shares of Inspire Medical Systems by 98.9% during the 1st quarter. Russell Investments Group Ltd. now owns 31,933 shares of the company’s stock valued at $6,859,000 after purchasing an additional 15,877 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of Inspire Medical Systems by 51.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 459,766 shares of the company’s stock worth $98,754,000 after purchasing an additional 156,893 shares during the period. Hedge funds and other institutional investors own 94.91% of the company’s stock.

Inspire Medical Systems Trading Up 4.8 %

Shares of Inspire Medical Systems stock opened at $214.93 on Friday. The company has a 50 day moving average of $190.48 and a 200-day moving average of $182.98. The company has a market cap of $6.39 billion, a PE ratio of -390.78 and a beta of 1.34. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $257.40.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 EPS for the quarter, topping the consensus estimate of ($0.14) by $0.46. The firm had revenue of $195.89 million during the quarter, compared to the consensus estimate of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The business’s quarterly revenue was up 29.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.41) earnings per share. Research analysts forecast that Inspire Medical Systems will post 0.75 earnings per share for the current year.

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.