Inspire Medical Systems (NYSE:INSP) Shares Down 8.3% - Time to Sell?

Key Points

• Shares down 8.3% — Inspire plunged to about $52.27 on Tuesday on very light trading (125,386 shares, roughly 90% below average) and is trading below its 50‑day ($57.94) and 200‑day ($80.92) moving averages.
• Analyst consensus: Hold — The street consensus is a "Hold" with an average target of $101.41, despite mixed recent notes and price‑target changes (5 Buys, 13 Holds, 1 Sell and several lowered targets).
• Earnings beat — Inspire reported $1.65 EPS vs. $0.69 expected and $269.1M revenue (up 12.2% YoY); the company has a $1.53B market cap and a PE of about 10.7.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s share price fell 8.3% during mid-day trading on Tuesday . The company traded as low as $54.75 and last traded at $52.2680. 125,386 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,197,562 shares. The stock had previously closed at $56.97.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INSP. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $56.00 price target on shares of Inspire Medical Systems in a research note on Tuesday, April 14th. Stifel Nicolaus decreased their price target on shares of Inspire Medical Systems from $85.00 to $70.00 and set a "buy" rating for the company in a research note on Friday, April 10th. Robert W. Baird set a $74.00 price target on shares of Inspire Medical Systems and gave the stock a "neutral" rating in a research note on Thursday, February 12th. Zacks Research downgraded shares of Inspire Medical Systems from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Morgan Stanley set a $60.00 price target on shares of Inspire Medical Systems in a research note on Wednesday, February 18th. Five analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Inspire Medical Systems presently has a consensus rating of "Hold" and a consensus target price of $101.41.

Inspire Medical Systems Stock Performance

The firm has a market cap of $1.53 billion, a PE ratio of 10.68, a P/E/G ratio of 2.97 and a beta of 0.86. The firm's 50-day moving average price is $57.94 and its two-hundred day moving average price is $80.92.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.96. The business had revenue of $269.08 million during the quarter, compared to the consensus estimate of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The company's revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.15 EPS. As a group, sell-side analysts predict that Inspire Medical Systems, Inc. will post 1.82 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Inspire Medical Systems

A number of institutional investors have recently modified their holdings of INSP. Royal Bank of Canada increased its holdings in shares of Inspire Medical Systems by 16.0% in the 1st quarter. Royal Bank of Canada now owns 32,769 shares of the company's stock valued at $5,220,000 after acquiring an additional 4,528 shares during the period. Integrated Wealth Concepts LLC acquired a new position in shares of Inspire Medical Systems in the 1st quarter valued at $524,000. Goldman Sachs Group Inc. increased its holdings in shares of Inspire Medical Systems by 57.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 51,422 shares of the company's stock valued at $8,190,000 after acquiring an additional 18,857 shares during the period. Marshall Wace LLP increased its holdings in shares of Inspire Medical Systems by 3.8% in the 2nd quarter. Marshall Wace LLP now owns 15,905 shares of the company's stock valued at $2,064,000 after acquiring an additional 577 shares during the period. Finally, Jump Financial LLC acquired a new position in shares of Inspire Medical Systems in the 2nd quarter valued at $931,000. 94.91% of the stock is owned by institutional investors and hedge funds.

Inspire Medical Systems Company Profile

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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