Inspire Medical Systems (NYSE:INSP) Trading Down 3.6%

Inspire Medical Systems, Inc. (NYSE:INSP) shares were down 3.6% during mid-day trading on Monday . The stock traded as low as $220.62 and last traded at $220.90. Approximately 170,298 shares traded hands during mid-day trading, a decline of 68% from the average daily volume of 531,891 shares. The stock had previously closed at $229.22.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on INSP shares. Truist Financial restated a “buy” rating and issued a $280.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 20th. Stifel Nicolaus restated a “hold” rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a report on Tuesday, January 2nd. Mizuho restated a “buy” rating and issued a $250.00 price objective on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Jefferies Financial Group started coverage on shares of Inspire Medical Systems in a report on Friday, January 19th. They issued a “buy” rating and a $245.00 price objective on the stock. Finally, Morgan Stanley started coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an “overweight” rating and a $250.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.20.

Inspire Medical Systems Stock Performance

The stock’s 50 day simple moving average is $205.03 and its 200-day simple moving average is $184.73.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business had revenue of $192.51 million during the quarter, compared to the consensus estimate of $186.75 million. During the same period in the previous year, the company posted $0.10 earnings per share. The business’s revenue for the quarter was up 39.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Inspire Medical Systems, Inc. will post -0.35 EPS for the current fiscal year.

Insider Transactions at Inspire Medical Systems

In other news, CEO Timothy P. Herbert sold 40,000 shares of the business’s stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $205.09, for a total transaction of $8,203,600.00. Following the completion of the transaction, the chief executive officer now directly owns 63,658 shares of the company’s stock, valued at $13,055,619.22. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Richard Buchholz sold 15,000 shares of the stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $230.03, for a total transaction of $3,450,450.00. Following the completion of the transaction, the chief financial officer now owns 28,271 shares in the company, valued at $6,503,178.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,371 shares of company stock valued at $15,664,278. 4.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC raised its stake in Inspire Medical Systems by 130.1% during the 3rd quarter. FMR LLC now owns 2,471,464 shares of the company’s stock worth $490,437,000 after acquiring an additional 1,397,510 shares in the last quarter. Wellington Management Group LLP raised its stake in Inspire Medical Systems by 46.4% during the 4th quarter. Wellington Management Group LLP now owns 1,430,266 shares of the company’s stock worth $290,959,000 after acquiring an additional 453,294 shares in the last quarter. Baillie Gifford & Co. raised its stake in Inspire Medical Systems by 6,846.9% during the 4th quarter. Baillie Gifford & Co. now owns 1,229,879 shares of the company’s stock worth $250,194,000 after acquiring an additional 1,212,175 shares in the last quarter. Wasatch Advisors LP raised its stake in Inspire Medical Systems by 0.5% during the 1st quarter. Wasatch Advisors LP now owns 1,102,867 shares of the company’s stock worth $236,885,000 after acquiring an additional 5,522 shares in the last quarter. Finally, Frontier Capital Management Co. LLC raised its stake in Inspire Medical Systems by 105.2% during the 4th quarter. Frontier Capital Management Co. LLC now owns 742,046 shares of the company’s stock worth $150,954,000 after acquiring an additional 380,362 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.