Inspire Medical Systems (NYSE:INSP) Hits New 12-Month High at $72.28

Inspire Medical Systems (NYSE:INSP)’s stock price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $72.28 and last traded at $71.80, with a volume of 6335 shares traded. The stock had previously closed at $70.75.

Several research analysts recently issued reports on INSP shares. Zacks Investment Research raised Inspire Medical Systems from a “hold” rating to a “strong-buy” rating and set a $69.00 target price for the company in a research report on Saturday, November 9th. Dougherty & Co set a $78.00 target price on Inspire Medical Systems and gave the stock a “buy” rating in a research report on Friday, September 27th. Berenberg Bank raised Inspire Medical Systems from a “sell” rating to a “hold” rating and raised their target price for the stock from $46.00 to $51.00 in a research report on Wednesday, November 6th. Finally, ValuEngine lowered Inspire Medical Systems from a “hold” rating to a “sell” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $68.25.

The company has a 50-day moving average price of $60.26 and a two-hundred day moving average price of $61.45. The company has a current ratio of 13.42, a quick ratio of 13.05 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $1.70 billion, a P/E ratio of -47.67 and a beta of 1.22.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.34) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.43) by $0.09. Inspire Medical Systems had a negative return on equity of 18.67% and a negative net margin of 40.36%. The firm had revenue of $20.86 million during the quarter, compared to analyst estimates of $19.15 million. During the same period last year, the company posted ($0.22) EPS. The business’s quarterly revenue was up 59.8% on a year-over-year basis. Research analysts forecast that Inspire Medical Systems will post -1.46 earnings per share for the current year.

In other news, Director Mudit K. Jain sold 500 shares of Inspire Medical Systems stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $68.47, for a total value of $34,235.00. Following the completion of the transaction, the director now directly owns 6,097 shares of the company’s stock, valued at approximately $417,461.59. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Randy Ban sold 10,000 shares of Inspire Medical Systems stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $61.62, for a total value of $616,200.00. Over the last three months, insiders sold 176,190 shares of company stock valued at $11,395,771. Corporate insiders own 12.10% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. Marshall Wace North America L.P. acquired a new position in shares of Inspire Medical Systems in the 1st quarter valued at $45,000. Commonwealth Equity Services LLC boosted its position in Inspire Medical Systems by 37.7% during the second quarter. Commonwealth Equity Services LLC now owns 6,363 shares of the company’s stock valued at $385,000 after purchasing an additional 1,743 shares during the last quarter. First Quadrant L P CA acquired a new position in Inspire Medical Systems during the second quarter valued at approximately $118,000. Strs Ohio boosted its position in Inspire Medical Systems by 8.7% during the second quarter. Strs Ohio now owns 2,500 shares of the company’s stock valued at $151,000 after purchasing an additional 200 shares during the last quarter. Finally, Advisor Group Inc. boosted its position in Inspire Medical Systems by 11.4% during the second quarter. Advisor Group Inc. now owns 9,697 shares of the company’s stock valued at $587,000 after purchasing an additional 996 shares during the last quarter. 89.74% of the stock is owned by hedge funds and other institutional investors.

About Inspire Medical Systems (NYSE:INSP)

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). It offers Inspire system, a neurostimulation technology that provides a safe and effective treatment for moderate to severe obstructive sleep apnea.

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