Wall Street Zen Downgrades Inspire Medical Systems (NYSE:INSP) to Hold

Key Points

• Inspire Medical Systems has been downgraded from a "buy" rating to a "hold" rating by Wall Street Zen, signaling a shift in analyst sentiment.
• Analysts have varied price targets for Inspire Medical Systems, with the highest being $236.00 and the lowest $174.00, reflecting differing views on the company's future performance.
• Despite the downgrade, the company reported a 22.7% increase in revenue year-over-year, demonstrating growth potential, as it generated $201.32 million in revenue for the last quarter.

Inspire Medical Systems (NYSE:INSP - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued on Saturday.

INSP has been the topic of a number of other research reports. Robert W. Baird lifted their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Stifel Nicolaus reduced their target price on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating on the stock in a report on Monday, April 21st. KeyCorp reduced their target price on Inspire Medical Systems from $216.00 to $197.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. JPMorgan Chase & Co. dropped their price objective on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Royal Bank Of Canada dropped their price objective on shares of Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Moderate Buy" and a consensus target price of $208.55.

Inspire Medical Systems Stock Down 0.7%

NYSE INSP traded down $0.95 during mid-day trading on Friday, hitting $129.78. The stock had a trading volume of 368,781 shares, compared to its average volume of 566,046. The company has a 50 day simple moving average of $132.85 and a 200 day simple moving average of $155.74. The company has a market cap of $3.83 billion, a price-to-earnings ratio of 59.81, a P/E/G ratio of 2.00 and a beta of 1.25. Inspire Medical Systems has a 52-week low of $124.45 and a 52-week high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released 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 company had revenue of $201.32 million during the quarter, compared to the consensus estimate of $194.89 million. Inspire Medical Systems had a return on equity of 10.00% and a net margin of 7.92%. Inspire Medical Systems's revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted ($0.34) earnings per share. As a group, equities analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Insider Activity at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of the business's 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 transaction, the director owned 24,046 shares in the company, valued at approximately $3,847,360. The trade was a 1.48% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of INSP. SG Americas Securities LLC raised its stake in Inspire Medical Systems by 14.7% during the first quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock valued at $646,000 after buying an additional 521 shares in the last quarter. GAMMA Investing LLC raised its stake in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock valued at $91,000 after buying an additional 411 shares in the last quarter. New York State Teachers Retirement System raised its stake 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 valued at $3,407,000 after buying an additional 12,196 shares in the last quarter. Bessemer Group Inc. raised its stake in Inspire Medical Systems by 1.7% during the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock valued at $1,145,000 after buying an additional 123 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after purchasing an additional 164 shares during 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.