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

Inspire Medical Systems, Inc. (NYSE:INSP) has received a consensus rating of “Moderate Buy” from the fifteen ratings firms that are covering the company, MarketBeat reports. Five investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $219.79.

A number of brokerages recently issued reports on INSP. Morgan Stanley cut their target price on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a report on Monday, July 15th. Bank of America cut their target price on Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating on the stock in a report on Monday, June 3rd. Truist Financial dropped their price objective on Inspire Medical Systems from $280.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday, July 16th. KeyCorp dropped their price objective on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Piper Sandler raised their price objective on Inspire Medical Systems from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, May 8th.

Inspire Medical Systems Stock Up 2.7 %

Shares of INSP opened at $191.38 on Friday. Inspire Medical Systems has a 12-month low of $123.00 and a 12-month high of $257.40. The business’s fifty day moving average is $154.46 and its 200 day moving average is $181.08. The stock has a market cap of $5.69 billion, a P/E ratio of -347.96 and a beta of 1.31.

Inspire Medical Systems (NYSE:INSP) last issued its earnings results on Tuesday, August 6th. The company reported $0.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. Inspire Medical Systems had a negative return on equity of 2.82% and a negative net margin of 2.38%. The company had revenue of $195.89 million for the quarter, compared to analysts’ expectations of $189.08 million. During the same period last year, the business earned ($0.41) EPS. Inspire Medical Systems’s quarterly revenue was up 29.6% compared to the same quarter last year. On average, analysts expect that Inspire Medical Systems will post 0.15 EPS for the current year.

Insider Transactions at Inspire Medical Systems

In other news, 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 transaction of $916,541.55. Following the sale, the insider now directly owns 3,056 shares in the company, valued at approximately $576,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 4.10% of the company’s stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several large investors have recently added to or reduced their stakes in INSP. International Assets Investment Management LLC purchased a new stake in Inspire Medical Systems in the 4th quarter worth about $166,000. Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Inspire Medical Systems in the 4th quarter worth about $1,271,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Inspire Medical Systems by 14.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,408 shares of the company’s stock worth $1,304,000 after acquiring an additional 785 shares during the last quarter. Calamos Advisors LLC purchased a new position in Inspire Medical Systems during the 4th quarter valued at about $1,929,000. Finally, Cornerstone Investment Partners LLC purchased a new position in Inspire Medical Systems during the 4th quarter valued at about $207,000. Hedge funds and other 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.