Inspire Medical Systems, Inc. (NYSE:INSP) Given Average Recommendation of “Moderate Buy” by Brokerages

Inspire Medical Systems, Inc. (NYSE:INSP) has been assigned a consensus rating of “Moderate Buy” from the eleven brokerages that are covering the firm, Marketbeat.com reports. Three analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $228.82.

INSP has been the subject of several recent analyst reports. Bank of America raised shares of Inspire Medical Systems from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $220.00 to $255.00 in a research report on Wednesday, November 20th. Truist Financial dropped their target price on shares of Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. Stifel Nicolaus dropped their target price on shares of Inspire Medical Systems from $200.00 to $190.00 and set a “hold” rating for the company in a report on Tuesday, January 21st. Piper Sandler dropped their target price on shares of Inspire Medical Systems from $260.00 to $233.00 and set an “overweight” rating for the company in a report on Monday, February 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $260.00 target price on shares of Inspire Medical Systems in a report on Tuesday, February 11th.

Inspire Medical Systems Stock Down 3.8 %

INSP opened at $172.60 on Wednesday. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $257.40. The company has a 50-day simple moving average of $186.71 and a 200 day simple moving average of $192.61. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 99.77, a P/E/G ratio of 2.86 and a beta of 1.48.

Inspire Medical Systems (NYSE:INSP) last posted its quarterly earnings data on Monday, February 10th. The company reported $1.15 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.41. Inspire Medical Systems had a net margin of 6.67% and a return on equity of 8.19%. Sell-side analysts anticipate that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Activity

In other news, insider Randy Ban sold 25,584 shares of the company’s stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $183.50, for a total value of $4,694,664.00. Following the completion of the transaction, the insider now owns 7,259 shares of the company’s stock, valued at $1,332,026.50. This represents a 77.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CTO John Rondoni sold 583 shares of the company’s stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $170.49, for a total value of $99,395.67. Following the completion of the transaction, the chief technology officer now directly owns 10,424 shares of the company’s stock, valued at $1,777,187.76. This represents a 5.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,225 shares of company stock valued at $4,806,530 over the last quarter. 4.10% of the stock is owned by company insiders.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. acquired a new stake in Inspire Medical Systems during the 4th quarter valued at approximately $945,000. Squarepoint Ops LLC increased its position in Inspire Medical Systems by 185.4% during the 4th quarter. Squarepoint Ops LLC now owns 2,477 shares of the company’s stock valued at $459,000 after purchasing an additional 5,377 shares during the period. Two Sigma Investments LP increased its position in Inspire Medical Systems by 9.3% during the 4th quarter. Two Sigma Investments LP now owns 16,384 shares of the company’s stock valued at $3,037,000 after purchasing an additional 1,398 shares during the period. True Wealth Design LLC increased its position in Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after purchasing an additional 55 shares during the period. Finally, Man Group plc increased its position in Inspire Medical Systems by 112.7% during the 4th quarter. Man Group plc now owns 175,926 shares of the company’s stock valued at $32,613,000 after purchasing an additional 93,214 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.

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.