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

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $211.91.

INSP has been the subject of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Morgan Stanley lowered their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Robert W. Baird upped their price objective on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a research note on Tuesday, May 6th. KeyCorp lowered their price objective on shares of Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, Stifel Nicolaus lowered their price objective on shares of Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a research note on Monday, April 21st.

Inspire Medical Systems Stock Down 1.1%

Inspire Medical Systems stock opened at $127.11 on Tuesday. The company has a market capitalization of $3.75 billion, a PE ratio of 58.58, a P/E/G ratio of 1.97 and a beta of 1.25. The firm has a fifty day simple moving average of $141.04 and a two-hundred day simple moving average of $162.77. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month 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, topping the consensus estimate of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The firm's revenue for the quarter was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.34) earnings per share. As a group, equities analysts expect that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Shawn Mccormick sold 360 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the transaction, the director owned 24,046 shares in the company, valued at $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank grew its holdings in Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after purchasing an additional 121 shares during the period. Parallel Advisors LLC grew its holdings in Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock worth $33,000 after purchasing an additional 164 shares during the period. True Wealth Design LLC grew its holdings in Inspire Medical Systems by 39.0% in the fourth quarter. True Wealth Design LLC now owns 196 shares of the company's stock worth $36,000 after purchasing an additional 55 shares during the period. Harbour Investments Inc. grew its holdings in Inspire Medical Systems by 101.0% in the fourth quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after purchasing an additional 99 shares during the period. Finally, Quarry LP grew its holdings in Inspire Medical Systems by 2,127.3% in the first quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after purchasing an additional 234 shares during the period. Hedge funds and other institutional investors 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.

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