Inspire Medical Systems (NYSE:INSP) Shares Gap Down – Should You Sell?

Inspire Medical Systems, Inc. (NYSE:INSP)’s stock price gapped down before the market opened on Monday . The stock had previously closed at $187.77, but opened at $182.00. Inspire Medical Systems shares last traded at $180.51, with a volume of 130,518 shares trading hands.

Analysts Set New Price Targets

INSP has been the subject of a number of analyst reports. Leerink Partners upped their price target on Inspire Medical Systems from $167.00 to $197.00 and gave the stock a “market perform” rating in a report on Tuesday, September 10th. Robert W. Baird raised their price target on shares of Inspire Medical Systems from $240.00 to $252.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Wells Fargo & Company upped their price objective on shares of Inspire Medical Systems from $187.00 to $198.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 5th. Stifel Nicolaus reaffirmed a “hold” rating and set a $200.00 target price (up from $170.00) on shares of Inspire Medical Systems in a research report on Tuesday, November 5th. Finally, Piper Sandler reissued an “overweight” rating and issued a $260.00 price target (up previously from $255.00) on shares of Inspire Medical Systems in a report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $233.58.

Inspire Medical Systems Trading Down 0.7 %

The company has a market cap of $5.58 billion, a price-to-earnings ratio of 174.10 and a beta of 1.31. The firm has a 50-day moving average price of $191.90 and a 200 day moving average price of $180.30.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Monday, November 4th. The company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.54. Inspire Medical Systems had a net margin of 4.37% and a return on equity of 5.30%. The firm had revenue of $203.20 million during the quarter, compared to the consensus estimate of $197.59 million. During the same quarter in the previous year, the company posted ($0.29) earnings per share. The firm’s revenue was up 32.6% on a year-over-year basis. Research analysts anticipate that Inspire Medical Systems, Inc. will post 1.33 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SouthState Corp bought a new stake in shares of Inspire Medical Systems in the 2nd quarter worth approximately $27,000. True Wealth Design LLC acquired a new stake in Inspire Medical Systems in the third quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in Inspire Medical Systems by 1,158.3% in the third quarter. Farther Finance Advisors LLC now owns 151 shares of the company’s stock valued at $32,000 after buying an additional 139 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Inspire Medical Systems by 559.3% during the third quarter. GAMMA Investing LLC now owns 178 shares of the company’s stock valued at $38,000 after acquiring an additional 151 shares during the period. Finally, Quarry LP boosted its holdings in shares of Inspire Medical Systems by 105.4% during the second quarter. Quarry LP now owns 343 shares of the company’s stock valued at $46,000 after acquiring an additional 176 shares during the period. 94.91% of the stock is currently owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

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.