Inspire Medical Systems' (INSP) Sell (D) Rating Reiterated at Weiss Ratings

Inspire Medical Systems (NYSE:INSP - Get Free Report)'s stock had its "sell (d)" rating reiterated by equities research analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Other equities analysts also recently issued research reports about the company. Morgan Stanley dropped their price target on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 15th. Royal Bank Of Canada dropped their price target on Inspire Medical Systems from $215.00 to $180.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. UBS Group set a $89.00 price target on Inspire Medical Systems and gave the stock a "neutral" rating in a research report on Monday, September 22nd. Lake Street Capital set a $150.00 price target on Inspire Medical Systems and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, KeyCorp downgraded Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, August 5th. Seven analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Inspire Medical Systems has an average rating of "Hold" and an average target price of $152.64.

Inspire Medical Systems Trading Up 2.2%

INSP opened at $78.50 on Wednesday. Inspire Medical Systems has a 12-month low of $70.77 and a 12-month high of $216.01. The business's fifty day simple moving average is $85.97 and its 200-day simple moving average is $123.05. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of 45.38, a PEG ratio of 2.40 and a beta of 1.16.

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

Inspire Medical Systems announced that its Board of Directors has authorized a share repurchase plan on Monday, August 11th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 8.6% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, CFO Richard Buchholz sold 11,000 shares of the firm's stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the sale, the chief financial officer owned 44,867 shares of the company's stock, valued at $4,190,129.13. This trade represents a 19.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 4.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors have recently added to or reduced their stakes in INSP. Quarry LP boosted 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 acquiring an additional 234 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Inspire Medical Systems in the first quarter worth about $46,000. Daiwa Securities Group Inc. boosted its holdings in Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company's stock worth $60,000 after acquiring an additional 130 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Inspire Medical Systems by 27.2% in the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company's stock worth $71,000 after acquiring an additional 97 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in Inspire Medical Systems by 14.6% in the second quarter. Farther Finance Advisors LLC now owns 603 shares of the company's stock worth $78,000 after acquiring an additional 77 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.