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

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned a consensus rating of “Moderate Buy” from the fourteen analysts that are currently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $214.85.

Several equities research analysts recently issued reports on INSP shares. Bank of America cut their price objective on shares of Inspire Medical Systems from $225.00 to $185.00 and set a “neutral” rating for the company in a research report on Monday, June 3rd. Robert W. Baird reduced their price target on shares of Inspire Medical Systems from $220.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Leerink Partners upped their price objective on Inspire Medical Systems from $167.00 to $197.00 and gave the company a “market perform” rating in a report on Tuesday, September 10th. KeyCorp cut their target price on Inspire Medical Systems from $278.00 to $236.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Finally, Morgan Stanley decreased their price target on Inspire Medical Systems from $250.00 to $210.00 and set an “overweight” rating on the stock in a research note on Monday, July 15th.

Insider Buying and Selling at Inspire Medical Systems

In other news, Director Shawn Mccormick sold 800 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now owns 23,140 shares of the company’s stock, valued at $5,090,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Shawn Mccormick sold 800 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $220.00, for a total transaction of $176,000.00. Following the sale, the director now directly owns 23,140 shares of the company’s stock, valued at approximately $5,090,800. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Randy Ban sold 4,861 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $188.55, for a total transaction of $916,541.55. Following the completion of the transaction, the insider now directly owns 3,056 shares of the company’s stock, valued at approximately $576,208.80. The disclosure for this sale can be found here. Insiders sold a total of 5,692 shares of company stock valued at $1,099,207 in the last three months. 4.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. boosted its stake in shares of Inspire Medical Systems by 19.3% in the 1st quarter. Baillie Gifford & Co. now owns 1,467,613 shares of the company’s stock valued at $315,229,000 after buying an additional 237,734 shares during the period. Wellington Management Group LLP lifted its stake in Inspire Medical Systems by 46.4% in the fourth 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 during the last quarter. Wasatch Advisors LP lifted its stake in Inspire Medical Systems by 0.5% in the first 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 during the last quarter. Bank of New York Mellon Corp grew its holdings in Inspire Medical Systems by 32.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 787,815 shares of the company’s stock worth $105,433,000 after acquiring an additional 192,238 shares in the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Inspire Medical Systems by 1.8% in the 2nd quarter. William Blair Investment Management LLC now owns 770,413 shares of the company’s stock valued at $103,104,000 after purchasing an additional 13,602 shares during the last quarter. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Trading Down 0.6 %

INSP stock opened at $206.78 on Wednesday. The firm has a 50-day moving average of $171.94 and a two-hundred day moving average of $181.45. Inspire Medical Systems has a 12 month low of $123.00 and a 12 month high of $257.40. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -375.96 and a beta of 1.33.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.46. The company had revenue of $195.89 million for the quarter, compared to analyst estimates of $189.08 million. Inspire Medical Systems had a return on equity of 1.03% and a net margin of 0.85%. The firm’s revenue for the quarter was up 29.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.41) earnings per share. As a group, equities analysts forecast that Inspire Medical Systems will post 0.75 earnings per share 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.