Inspire Medical Systems (NYSE:INSP) Trading Up 8.8%

Inspire Medical Systems, Inc. (NYSE:INSP)’s share price was up 8.8% during mid-day trading on Wednesday . The stock traded as high as $145.09 and last traded at $144.80. Approximately 520,490 shares traded hands during trading, an increase of 7% from the average daily volume of 487,287 shares. The stock had previously closed at $133.09.

Analysts Set New Price Targets

INSP has been the topic of several recent analyst reports. Mizuho dropped their target price on Inspire Medical Systems from $300.00 to $215.00 and set a “buy” rating on the stock in a report on Wednesday, November 8th. TheStreet downgraded Inspire Medical Systems from a “c-” rating to a “d+” rating in a report on Thursday, October 26th. SVB Leerink initiated coverage on Inspire Medical Systems in a research note on Monday, October 16th. They issued a “market perform” rating and a $159.00 price objective for the company. UBS Group dropped their target price on Inspire Medical Systems from $405.00 to $322.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. Finally, JPMorgan Chase & Co. dropped their price objective on Inspire Medical Systems from $340.00 to $181.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.92.

Inspire Medical Systems Stock Down 1.7 %

The firm has a market cap of $4.23 billion, a price-to-earnings ratio of -126.85 and a beta of 1.48. The business has a 50 day moving average of $171.61 and a 200 day moving average of $244.88.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, November 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.53) by $0.24. Inspire Medical Systems had a negative net margin of 5.75% and a negative return on equity of 6.32%. The business had revenue of $153.30 million during the quarter, compared to analyst estimates of $154.49 million. During the same quarter in the previous year, the business posted ($0.60) earnings per share. The company’s revenue was up 40.4% on a year-over-year basis. Research analysts predict that Inspire Medical Systems, Inc. will post -1.48 earnings per share for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Several institutional investors have recently added to or reduced their stakes in INSP. Commonwealth Equity Services LLC grew its holdings in Inspire Medical Systems by 0.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 6,774 shares of the company’s stock valued at $1,585,000 after buying an additional 36 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in Inspire Medical Systems by 2.3% in the fourth quarter. Metropolitan Life Insurance Co NY now owns 1,734 shares of the company’s stock valued at $437,000 after purchasing an additional 39 shares during the period. Ameritas Investment Partners Inc. increased its position in Inspire Medical Systems by 1.9% during the first quarter. Ameritas Investment Partners Inc. now owns 2,255 shares of the company’s stock worth $528,000 after purchasing an additional 42 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its stake in Inspire Medical Systems by 3.9% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,122 shares of the company’s stock worth $364,000 after purchasing an additional 42 shares during the period. Finally, Y Intercept Hong Kong Ltd boosted its holdings in shares of Inspire Medical Systems by 3.7% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 1,200 shares of the company’s stock valued at $390,000 after purchasing an additional 43 shares during the last quarter. 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.