Inspire Medical Systems (NYSE:INSP) Lowered to "Neutral" Rating by JPMorgan Chase & Co.

Key Points

• Inspire Medical Systems has been downgraded from an "overweight" to a "neutral" rating by JPMorgan Chase & Co., with a target price set at $110.00, indicating a potential downside of 15.90% from its current price.
• Other analysts have also adjusted their price targets for Inspire Medical Systems, with Royal Bank of Canada lowering theirs from $260.00 to $215.00 while maintaining an "outperform" rating.
• The company reported $0.45 earnings per share (EPS) for the last quarter, exceeding analyst expectations of $0.22, and experienced a revenue increase of 10.8% year over year.

JPMorgan Chase & Co. lowered shares of Inspire Medical Systems (NYSE:INSP - Free Report) from an overweight rating to a neutral rating in a research note released on Tuesday, Marketbeat reports. They currently have $110.00 price objective on the stock, down from their prior price objective of $195.00.

Several other equities research analysts have also recently weighed in on the company. Stifel Nicolaus cut their target price on 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. Royal Bank Of Canada cut their target price on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. KeyCorp cut Inspire Medical Systems from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Wells Fargo & Company cut their target price on Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 6th. Finally, Morgan Stanley cut their target price on Inspire Medical Systems from $200.00 to $182.00 and set an "overweight" rating for the company in a research note on Tuesday, July 15th. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $173.31.

Inspire Medical Systems Stock Performance

Shares of INSP stock traded down $1.26 during trading on Tuesday, hitting $77.20. The company had a trading volume of 2,060,274 shares, compared to its average volume of 1,301,354. The firm has a market capitalization of $2.28 billion, a P/E ratio of 44.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.22. The stock's 50-day moving average price is $127.94 and its 200 day moving average price is $152.62. Inspire Medical Systems has a one year low of $73.92 and a one year high of $225.00.

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 the consensus estimate of $0.22 by $0.23. The business had revenue of $217.09 million during the quarter, compared to analysts' expectations of $214.50 million. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%. The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.32 earnings per share. On average, research analysts anticipate that Inspire Medical Systems will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Inspire Medical Systems

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Inspire Medical Systems by 214.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,112,925 shares of the company's stock worth $177,267,000 after acquiring an additional 759,090 shares during the period. Dragoneer Investment Group LLC bought a new position in shares of Inspire Medical Systems during the 4th quarter worth about $161,486,000. Invesco Ltd. boosted its position in shares of Inspire Medical Systems by 8.3% during the 1st quarter. Invesco Ltd. now owns 858,572 shares of the company's stock worth $136,753,000 after purchasing an additional 65,492 shares in the last quarter. William Blair Investment Management LLC lifted its position in Inspire Medical Systems by 11.0% in the 2nd quarter. William Blair Investment Management LLC now owns 769,169 shares of the company's stock valued at $99,815,000 after acquiring an additional 76,251 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its position in Inspire Medical Systems by 12.9% in the 4th quarter. Janus Henderson Group PLC now owns 567,312 shares of the company's stock valued at $105,173,000 after acquiring an additional 64,703 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.