Inspire Medical Systems (NYSE:INSP) Trading Up 7.2% – Should You Buy?

Inspire Medical Systems, Inc. (NYSE:INSP) shares shot up 7.2% on Monday . The stock traded as high as $157.91 and last traded at $152.20. 115,446 shares traded hands during trading, a decline of 80% from the average session volume of 587,470 shares. The stock had previously closed at $141.93.

Analyst Ratings Changes

A number of equities analysts recently weighed in on INSP shares. Wells Fargo & Company decreased their price objective on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating for the company in a report on Tuesday, February 11th. KeyCorp restated an “overweight” rating and issued a $234.00 price target (down previously from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Truist Financial dropped their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating on the stock in a research report on Tuesday, February 11th. Stifel Nicolaus decreased their target price on Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a research report on Tuesday, January 21st. Finally, Morgan Stanley dropped their price target on shares of Inspire Medical Systems from $230.00 to $220.00 and set an “overweight” rating on the stock in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.70.

Inspire Medical Systems Stock Up 5.5 %

The business’s fifty day moving average is $175.94 and its 200-day moving average is $188.07. The company has a market cap of $4.46 billion, a PE ratio of 86.54, a P/E/G ratio of 2.86 and a beta of 1.39.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Analysts forecast that Inspire Medical Systems, Inc. will post 2.16 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other Inspire Medical Systems news, CTO John Rondoni sold 583 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the sale, the chief technology officer now owns 10,424 shares in the company, valued at approximately $1,777,187.76. This represents a 5.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now directly owns 7,259 shares of the company’s stock, valued at approximately $1,332,026.50. This trade represents a 77.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 26,225 shares of company stock valued at $4,806,530 over the last quarter. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Inspire Medical Systems

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. First Horizon Advisors Inc. grew its holdings in Inspire Medical Systems by 885.7% during the 4th quarter. First Horizon Advisors Inc. now owns 138 shares of the company’s stock valued at $26,000 after buying an additional 124 shares in the last quarter. Huntington National Bank grew its stake in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company’s stock valued at $32,000 after acquiring an additional 121 shares in the last quarter. True Wealth Design LLC increased its holdings in Inspire Medical Systems by 39.0% in the 4th quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after acquiring an additional 55 shares during the last quarter. Harbour Investments Inc. lifted its stake in Inspire Medical Systems by 101.0% in the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company’s stock worth $37,000 after purchasing an additional 99 shares in the last quarter. Finally, AlphaQuest LLC lifted its stake in Inspire Medical Systems by 7,275.0% in the 4th quarter. AlphaQuest LLC now owns 295 shares of the company’s stock worth $55,000 after purchasing an additional 291 shares in the last quarter. Institutional investors own 94.91% of the company’s stock.

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.