Inspire Medical Systems (NYSE:INSP) Stock Price Down 4.8% - What's Next?

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) shares dropped 4.8% during trading on Friday . The stock traded as low as $133.18 and last traded at $132.55. Approximately 83,391 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 539,172 shares. The stock had previously closed at $139.25.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on INSP shares. Robert W. Baird raised their price target on Inspire Medical Systems from $230.00 to $236.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. KeyCorp decreased their target price on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Stifel Nicolaus cut their price target on Inspire Medical Systems from $190.00 to $175.00 and set a "hold" rating for the company in a report on Monday, April 21st. Wells Fargo & Company reduced their price target on shares of Inspire Medical Systems from $195.00 to $174.00 and set an "equal weight" rating on the stock in a research report on Tuesday, May 6th. Finally, Morgan Stanley decreased their price objective on shares of Inspire Medical Systems from $220.00 to $200.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Inspire Medical Systems presently has an average rating of "Moderate Buy" and a consensus price target of $211.91.

Inspire Medical Systems Stock Down 6.3%

The company's fifty day moving average is $139.08 and its two-hundred day moving average is $161.65. The firm has a market capitalization of $3.85 billion, a price-to-earnings ratio of 60.13, a price-to-earnings-growth ratio of 2.13 and a beta of 1.25.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Monday, May 5th. The company reported $0.10 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $201.32 million during the quarter, compared to analysts' expectations of $194.89 million. During the same quarter in the prior year, the company earned ($0.34) EPS. The firm's quarterly revenue was up 22.7% on a year-over-year basis. On average, equities research analysts expect that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

Insider Buying and Selling at Inspire Medical Systems

In related news, Director Shawn Mccormick sold 360 shares of the firm's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $160.00, for a total transaction of $57,600.00. Following the sale, the director directly owned 24,046 shares in the company, valued at $3,847,360. This trade represents a 1.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 4.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Inspire Medical Systems

Large investors have recently added to or reduced their stakes in the company. Huntington National Bank lifted its position in shares of Inspire Medical Systems by 228.3% in the fourth quarter. Huntington National Bank now owns 174 shares of the company's stock worth $32,000 after purchasing an additional 121 shares in the last quarter. Parallel Advisors LLC increased its stake 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 buying an additional 164 shares during the last quarter. True Wealth Design LLC increased its stake 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 buying an additional 55 shares during the last quarter. Harbour Investments Inc. lifted its position in Inspire Medical Systems by 101.0% during the 4th quarter. Harbour Investments Inc. now owns 197 shares of the company's stock worth $37,000 after buying an additional 99 shares in the last quarter. Finally, Quarry LP boosted its stake in shares of Inspire Medical Systems by 2,127.3% during the 1st quarter. Quarry LP now owns 245 shares of the company's stock worth $39,000 after buying an additional 234 shares during the last quarter. Institutional investors 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.