Inspire Medical Systems, Inc. (NYSE:INSP) Receives Average Rating of "Moderate Buy" from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eleven analysts that are currently covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $211.91.

A number of research analysts have recently weighed in on INSP shares. Wells Fargo & Company cut their price target on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 6th. Morgan Stanley cut their price target on Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. JPMorgan Chase & Co. cut their price target on Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Robert W. Baird raised their price objective on Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 6th. Finally, Royal Bank of Canada dropped their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th.

Inspire Medical Systems Price Performance

Shares of INSP stock traded up $2.50 during trading hours on Friday, reaching $129.68. The company had a trading volume of 536,316 shares, compared to its average volume of 566,960. The company has a 50 day moving average of $147.25 and a 200 day moving average of $169.08. The firm has a market cap of $3.82 billion, a price-to-earnings ratio of 74.96, a P/E/G ratio of 2.86 and a beta of 1.28. Inspire Medical Systems has a 1-year low of $123.00 and a 1-year high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The company reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of ($0.23) by $0.33. The company had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a return on equity of 8.19% and a net margin of 6.67%. The firm's quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.34) EPS. As a group, sell-side analysts forecast that Inspire Medical Systems will post 2.16 EPS for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, Director Shawn Mccormick sold 360 shares of Inspire Medical Systems stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total value of $57,600.00. Following the sale, the director now owns 24,046 shares of the company's stock, valued at $3,847,360. This trade represents a 1.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 4.10% of the stock is currently owned by company insiders.

Institutional Trading of Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of INSP. Louisiana State Employees Retirement System raised its stake in shares of Inspire Medical Systems by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,500 shares of the company's stock valued at $2,688,000 after purchasing an additional 100 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Inspire Medical Systems by 21.8% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 326,299 shares of the company's stock valued at $61,709,000 after purchasing an additional 58,447 shares during the period. Van ECK Associates Corp raised its stake in shares of Inspire Medical Systems by 52.7% in the 4th quarter. Van ECK Associates Corp now owns 1,113 shares of the company's stock valued at $206,000 after purchasing an additional 384 shares during the period. New York State Teachers Retirement System raised its stake in shares of Inspire Medical Systems by 13.6% in the 4th quarter. New York State Teachers Retirement System now owns 9,194 shares of the company's stock valued at $1,704,000 after purchasing an additional 1,100 shares during the period. Finally, Congress Asset Management Co. grew its holdings in shares of Inspire Medical Systems by 37.6% in the 4th quarter. Congress Asset Management Co. now owns 7,606 shares of the company's stock valued at $1,410,000 after acquiring an additional 2,077 shares in the last quarter. 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.