Inspire Medical Systems (NYSE:INSP) Rating Increased to Buy at Wall Street Zen

Inspire Medical Systems (NYSE:INSP - Get Free Report) was upgraded by analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a research report issued on Saturday.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. decreased their target price on shares of Inspire Medical Systems from $235.00 to $195.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. KeyCorp reduced their price objective on Inspire Medical Systems from $234.00 to $216.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Royal Bank Of Canada lowered their price objective on Inspire Medical Systems from $260.00 to $215.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. 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. Finally, Wells Fargo & Company lowered 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. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $211.91.

Inspire Medical Systems Price Performance

NYSE INSP traded down $8.77 during mid-day trading on Friday, hitting $130.48. The stock had a trading volume of 584,412 shares, compared to its average volume of 556,588. The firm's 50 day moving average is $139.08 and its 200 day moving average is $161.48. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 60.13, a PEG ratio of 1.99 and a beta of 1.25. Inspire Medical Systems has a twelve month low of $123.00 and a twelve month high of $225.00.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its earnings results on Monday, May 5th. The company reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.23) by $0.33. The business had revenue of $201.32 million during the quarter, compared to analyst estimates of $194.89 million. Inspire Medical Systems had a net margin of 7.92% and a return on equity of 10.00%. The company's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.34) earnings per share. As a group, equities research analysts expect that Inspire Medical Systems will post 2.16 earnings per share 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 dated Friday, May 2nd. The stock was sold at an average price of $160.00, for a total transaction of $57,600.00. Following the completion of the sale, the director directly owned 24,046 shares of the company's stock, valued at approximately $3,847,360. This trade represents a 1.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of INSP. SG Americas Securities LLC lifted its holdings in shares of Inspire Medical Systems by 14.7% in the 1st quarter. SG Americas Securities LLC now owns 4,055 shares of the company's stock worth $646,000 after acquiring an additional 521 shares during the last quarter. GAMMA Investing LLC lifted its stake in Inspire Medical Systems by 253.7% during the first quarter. GAMMA Investing LLC now owns 573 shares of the company's stock worth $91,000 after purchasing an additional 411 shares in the last quarter. New York State Teachers Retirement System lifted its stake in Inspire Medical Systems by 132.7% during the first quarter. New York State Teachers Retirement System now owns 21,390 shares of the company's stock worth $3,407,000 after purchasing an additional 12,196 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of Inspire Medical Systems by 1.7% during the first quarter. Bessemer Group Inc. now owns 7,183 shares of the company's stock worth $1,145,000 after buying an additional 123 shares during the period. Finally, Parallel Advisors LLC grew its stake in shares of Inspire Medical Systems by 356.5% in the first quarter. Parallel Advisors LLC now owns 210 shares of the company's stock valued at $33,000 after buying an additional 164 shares in the last quarter. Hedge funds and other institutional investors own 94.91% of the company's stock.

Inspire Medical Systems Company Profile

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.