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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) have been given a consensus rating of “Moderate Buy” by the thirteen brokerages that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $271.29.

A number of analysts have issued reports on INSP shares. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a research note on Friday, January 19th. They issued a “buy” rating and a $245.00 target price for the company. Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 target price for the company. KeyCorp assumed coverage on shares of Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an “overweight” rating and a $278.00 price target on the stock. Truist Financial reissued a “buy” rating and issued a $280.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Mizuho reissued a “buy” rating and issued a $250.00 price target on shares of Inspire Medical Systems in a research report on Wednesday, March 27th.

Insider Buying and Selling

In related news, insider Randy Ban sold 3,060 shares of the business’s stock in a transaction on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now owns 3,029 shares of the company’s stock, valued at $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of Inspire Medical Systems stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the sale, the chief executive officer now owns 63,658 shares in the company, valued at $13,055,619.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Randy Ban sold 3,060 shares of Inspire Medical Systems stock in a transaction on Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the sale, the insider now owns 3,029 shares in the company, valued at approximately $551,308.29. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 61,371 shares of company stock valued at $12,213,828. 4.10% of the stock is owned by company insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently made changes to their positions in the company. Altshuler Shaham Ltd acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $29,000. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Inspire Medical Systems in the 4th quarter valued at $27,000. Parkside Financial Bank & Trust acquired a new stake in shares of Inspire Medical Systems in the 1st quarter valued at $37,000. Meeder Asset Management Inc. boosted its stake in shares of Inspire Medical Systems by 7,850.0% in the 4th quarter. Meeder Asset Management Inc. now owns 159 shares of the company’s stock valued at $40,000 after purchasing an additional 157 shares in the last quarter. Finally, NBC Securities Inc. acquired a new stake in shares of Inspire Medical Systems in the 3rd quarter valued at $34,000. Institutional investors and hedge funds own 94.91% of the company’s stock.

Inspire Medical Systems Stock Performance

INSP stock opened at $231.74 on Friday. The stock has a market cap of $7.02 billion, a P/E ratio of -313.16 and a beta of 1.37. The firm has a 50 day simple moving average of $201.18 and a 200 day simple moving average of $182.69. Inspire Medical Systems has a 52 week low of $123.27 and a 52 week high of $330.00.

Inspire Medical Systems (NYSE:INSP) last posted its earnings results on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.53. The firm had revenue of $192.51 million during the quarter, compared to analysts’ expectations of $186.75 million. Inspire Medical Systems had a negative net margin of 3.39% and a negative return on equity of 3.93%. The company’s revenue was up 39.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.10 earnings per share. Sell-side analysts predict that Inspire Medical Systems will post -0.35 EPS 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.