Inspire Medical Systems (NYSE:INSP) Shares Up 4.7% – Should You Buy?

Inspire Medical Systems, Inc. (NYSE:INSP) was up 4.7% during mid-day trading on Monday . The stock traded as high as $185.47 and last traded at $185.74. Approximately 150,496 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 596,365 shares. The stock had previously closed at $177.32.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Truist Financial decreased their price objective on Inspire Medical Systems from $250.00 to $235.00 and set a “buy” rating for the company in a report on Tuesday, February 11th. KeyCorp reiterated an “overweight” rating and issued a $234.00 price target (down from $236.00) on shares of Inspire Medical Systems in a research note on Friday, January 24th. Robert W. Baird dropped their price target on Inspire Medical Systems from $252.00 to $248.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 11th. Stifel Nicolaus lowered 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 research note on Tuesday, January 21st. Finally, Wells Fargo & Company dropped their target price on shares of Inspire Medical Systems from $198.00 to $195.00 and set an “equal weight” rating on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $228.82.

Inspire Medical Systems Stock Up 5.2 %

The stock has a 50-day moving average of $187.92 and a 200 day moving average of $193.28. The stock has a market cap of $5.53 billion, a PE ratio of 107.81, a price-to-earnings-growth ratio of 2.86 and a beta of 1.32.

Inspire Medical Systems (NYSE:INSP) last announced its quarterly earnings data on Monday, February 10th. The company reported $1.15 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

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

Institutional Investors Weigh In On Inspire Medical Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in INSP. Creative Planning boosted its holdings in Inspire Medical Systems by 25.8% during the third quarter. Creative Planning now owns 3,240 shares of the company’s stock worth $684,000 after buying an additional 665 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Inspire Medical Systems by 45.9% during the 3rd quarter. Signaturefd LLC now owns 270 shares of the company’s stock worth $57,000 after acquiring an additional 85 shares in the last quarter. Louisiana State Employees Retirement System purchased a new stake in shares of Inspire Medical Systems during the 3rd quarter worth about $3,039,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Inspire Medical Systems by 153.3% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 7,800 shares of the company’s stock valued at $1,646,000 after acquiring an additional 4,721 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of Inspire Medical Systems in the third quarter valued at approximately $3,591,000. 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.