Inspire Medical Systems (NYSE:INSP) Hits New 52-Week Low After Analyst Downgrade

Key Points

• Inspire Medical Systems reached a new 52-week low of $73.92 following an analyst downgrade from Lake Street Capital, which reduced its price target from $270.00 to $150.00.
• Other analysts have also downgraded the stock, with seven rating it as a hold and seven as a buy, reflecting a consensus rating of "Moderate Buy" with an average price target of $173.31.
• The company reported earnings of $0.45 per share, exceeding analyst estimates and reflecting a 10.8% year-over-year increase in revenue, signaling strong operational performance despite stock price declines.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) reached a new 52-week low during mid-day trading on Wednesday after Lake Street Capital lowered their price target on the stock from $270.00 to $150.00. Lake Street Capital currently has a buy rating on the stock. Inspire Medical Systems traded as low as $73.92 and last traded at $86.10, with a volume of 10967488 shares. The stock had previously closed at $129.95.

Other equities analysts have also issued research reports about the stock. Wall Street Zen lowered shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Robert W. Baird increased their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. lowered shares of Inspire Medical Systems from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $195.00 to $110.00 in a report on Tuesday. Truist Financial reissued a "hold" rating and issued a $125.00 price target (down previously from $190.00) on shares of Inspire Medical Systems in a report on Tuesday. Finally, Stifel Nicolaus reduced their target price on shares of Inspire Medical Systems from $175.00 to $140.00 and set a "hold" rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Inspire Medical Systems currently has a consensus rating of "Moderate Buy" and an average price target of $173.31.

Institutional Investors Weigh In On Inspire Medical Systems

Several institutional investors and hedge funds have recently modified their holdings of INSP. Huntington National Bank lifted its position in shares of Inspire Medical Systems by 228.3% in the 4th 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 lifted its position in Inspire Medical Systems by 356.5% during the 1st quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after acquiring an additional 164 shares during the period. True Wealth Design LLC lifted its position in Inspire Medical Systems by 39.0% during the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after acquiring an additional 55 shares during the period. Quarry LP lifted its position in Inspire Medical Systems by 2,127.3% during the 1st quarter. Quarry LP now owns 245 shares of the company's stock valued at $39,000 after acquiring an additional 234 shares during the period. Finally, Banque Transatlantique SA purchased a new position in Inspire Medical Systems during the 1st quarter valued at about $46,000. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Stock Performance

The company has a market capitalization of $2.54 billion, a PE ratio of 49.77, a PEG ratio of 1.99 and a beta of 1.22. The business's 50-day moving average is $130.39 and its 200-day moving average is $153.83.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly 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. Inspire Medical Systems had a net margin of 6.17% and a return on equity of 10.39%. The company had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. During the same period last year, the company posted $0.32 EPS. Inspire Medical Systems's revenue was up 10.8% on a year-over-year basis. Analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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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