Inspire Medical Systems (NYSE:INSP) Hits New 12-Month Low - Time to Sell?

Key Points

• Inspire Medical Systems' share price hit a new 52-week low of $124.37, declining from a previous close of $131.21.
• Multiple investment firms have adjusted their price targets for the stock, with ratings ranging from "hold" to "outperform." The consensus price target is currently $208.55.
• Inspire Medical reported a quarterly EPS of $0.10, exceeding analyst estimates, with a revenue increase of 22.7% compared to the same quarter last year.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s share price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $124.37 and last traded at $124.54, with a volume of 643359 shares. The stock had previously closed at $131.21.

Analyst Ratings Changes

Several research analysts have issued reports on INSP shares. Robert W. Baird lifted their price target on shares of Inspire Medical Systems from $230.00 to $236.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. KeyCorp decreased their target price on shares of Inspire Medical Systems from $216.00 to $197.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. Wall Street Zen lowered shares of Inspire Medical Systems from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. Morgan Stanley decreased their target price on shares of 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Four 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 has an average rating of "Moderate Buy" and an average target price of $208.55.

Inspire Medical Systems Trading Up 1.3%

The stock has a market cap of $3.72 billion, a P/E ratio of 58.13, a P/E/G ratio of 1.91 and a beta of 1.22. The firm's fifty day moving average is $131.78 and its 200 day moving average is $154.92.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last posted its quarterly earnings data on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.23) by $0.33. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The company had revenue of $201.32 million for the quarter, compared to the consensus estimate of $194.89 million. During the same quarter in the previous year, the firm posted ($0.34) EPS. The business's revenue was up 22.7% compared to the same quarter last year. Research analysts forecast that Inspire Medical Systems, Inc. will post 2.16 earnings per share for the current fiscal year.

Institutional Trading of Inspire Medical Systems

Several institutional investors have recently made changes to their positions in INSP. Huntington National Bank grew its stake in Inspire Medical Systems by 228.3% during the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after buying an additional 121 shares during the last quarter. Parallel Advisors LLC raised its position in Inspire Medical Systems by 356.5% in the 1st 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. True Wealth Design LLC raised its position in Inspire Medical Systems by 39.0% in the 4th quarter. True Wealth Design LLC now owns 196 shares of the company's stock valued at $36,000 after purchasing an additional 55 shares during the last quarter. Quarry LP lifted its position in shares of Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after purchasing an additional 234 shares in the last quarter. Finally, Banque Transatlantique SA acquired a new position in shares of Inspire Medical Systems during the first quarter worth approximately $46,000. 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.