Inspire Medical Systems (NYSE:INSP) Cut to "Hold" at Zacks Research

Key Points

• Zacks Research downgraded Inspire Medical Systems from "strong-buy" to hold, and the stock's consensus among analysts is now a "Hold" (5 Buy, 13 Hold, 1 Sell) with a consensus price target of $101.41.
• Inspire posted a strong quarter, reporting EPS $1.65 versus $0.69 expected and revenue of $269.1M (+12.2% YoY) versus $264.0M expected, with analysts forecasting about 2.16 EPS for the year.
• The shares trade around $56.69 with a 12-month range of $48.30–$163.35, a market cap of $1.63B, 50/200-day moving averages of $58.47/$81.23, and roughly 94.9% institutional ownership.

Inspire Medical Systems (NYSE:INSP - Get Free Report) was downgraded by investment analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other brokerages have also recently issued reports on INSP. Evercore reiterated an "outperform" rating on shares of Inspire Medical Systems in a report on Friday, February 27th. Jefferies Financial Group cut their target price on Inspire Medical Systems from $81.00 to $66.00 and set a "hold" rating on the stock in a report on Thursday, February 12th. Morgan Stanley set a $60.00 target price on Inspire Medical Systems in a report on Wednesday, February 18th. Oppenheimer cut Inspire Medical Systems from an "outperform" rating to a "market perform" rating in a report on Thursday, January 22nd. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $56.00 target price on shares of Inspire Medical Systems in a report on Tuesday. Five equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $101.41.

Inspire Medical Systems Stock Down 0.2%

Shares of INSP opened at $56.69 on Tuesday. Inspire Medical Systems has a 12-month low of $48.30 and a 12-month high of $163.35. The business's fifty day moving average is $58.47 and its 200 day moving average is $81.23. The stock has a market cap of $1.63 billion, a P/E ratio of 11.38, a P/E/G ratio of 2.93 and a beta of 0.86.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its earnings results on Wednesday, February 11th. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.96. Inspire Medical Systems had a return on equity of 10.96% and a net margin of 15.95%.The company had revenue of $269.08 million for the quarter, compared to analysts' expectations of $264.02 million. During the same period last year, the business earned $1.15 EPS. Inspire Medical Systems's quarterly revenue was up 12.2% compared to the same quarter last year. On average, analysts expect that Inspire Medical Systems will post 2.16 EPS for the current year.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds have recently bought and sold shares of the company. Manning & Napier Advisors LLC purchased a new position in Inspire Medical Systems during the 3rd quarter worth $32,000. CWM LLC boosted its holdings in Inspire Medical Systems by 216.1% during the 4th quarter. CWM LLC now owns 354 shares of the company's stock worth $33,000 after acquiring an additional 242 shares during the last quarter. Havemeyer Place LP purchased a new position in Inspire Medical Systems during the 4th quarter worth $39,000. V Square Quantitative Management LLC purchased a new position in Inspire Medical Systems during the 4th quarter worth $40,000. Finally, Smartleaf Asset Management LLC boosted its holdings in Inspire Medical Systems by 84.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 449 shares of the company's stock worth $42,000 after acquiring an additional 205 shares during the last quarter. 94.91% of the stock is owned by hedge funds and other institutional investors.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company's flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.

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