Inspire Medical Systems, Inc. (NYSE:INSP) Given Consensus Recommendation of "Moderate Buy" by Brokerages

Key Points

• Inspire Medical Systems has received a consensus recommendation of "Moderate Buy" from thirteen analysts, with an average 12-month price target of $165.62.
• The company recently announced a stock buyback program allowing for $200 million in repurchases, indicating management's belief that the shares are undervalued.
• In the latest earnings report, Inspire Medical Systems surpassed expectations with $0.45 earnings per share, ahead of the consensus estimate of $0.22.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the thirteen analysts that are covering the firm, Marketbeat.com reports. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $165.6154.

INSP has been the subject of a number of research analyst reports. Stifel Nicolaus set a $140.00 target price on Inspire Medical Systems and gave the company a "hold" rating in a report on Tuesday, August 5th. Morgan Stanley reduced their target price on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a report on Tuesday, July 15th. Wells Fargo & Company cut their price objective on Inspire Medical Systems from $174.00 to $101.00 and set an "equal weight" rating for the company in a report on Tuesday, August 5th. Royal Bank Of Canada cut their price objective on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Finally, Lake Street Capital set a $150.00 price objective on Inspire Medical Systems and gave the stock a "buy" rating in a report on Tuesday, August 5th.

Inspire Medical Systems Stock Down 1.1%

INSP opened at $91.89 on Wednesday. The stock has a fifty day moving average of $116.12 and a 200-day moving average of $143.23. The firm has a market capitalization of $2.72 billion, a P/E ratio of 53.12, a PEG ratio of 2.90 and a beta of 1.22. Inspire Medical Systems has a 12-month low of $73.92 and a 12-month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.23. The company had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%.The company's revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Inspire Medical Systems has set its FY 2025 guidance at 0.400-0.500 EPS. On average, analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Inspire Medical Systems announced that its Board of Directors has initiated a stock buyback program on Monday, August 11th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its shares are undervalued.

Institutional Trading of Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC raised its holdings in shares of Inspire Medical Systems by 14.7% during the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock worth $646,000 after acquiring an additional 521 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after acquiring an additional 411 shares in the last quarter. New York State Teachers Retirement System increased its position in Inspire Medical Systems by 132.7% during the first quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after buying an additional 12,196 shares during the last quarter. Bessemer Group Inc. increased its position in Inspire Medical Systems by 1.7% during the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after buying an additional 123 shares during the last quarter. Finally, Parallel Advisors LLC increased its position in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after buying an additional 164 shares during the last quarter. 94.91% of the stock is currently owned by hedge funds and other institutional investors.

Inspire Medical Systems Company Profile

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.

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