Inspire Medical Systems (NYSE:INSP) Shares Gap Up to $221.63

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) gapped up before the market opened on Wednesday . The stock had previously closed at $221.63, but opened at $227.99. Inspire Medical Systems shares last traded at $244.54, with a volume of 1,396,816 shares trading hands.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on INSP. Jefferies Financial Group began coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a "buy" rating and a $245.00 target price on the stock. Mizuho restated a "buy" rating and issued a $250.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 27th. Truist Financial reissued a "buy" rating and issued a $280.00 price target on shares of Inspire Medical Systems in a report on Wednesday, March 20th. KeyCorp started coverage on Inspire Medical Systems in a research report on Tuesday, February 6th. They issued an "overweight" rating and a $278.00 target price on the stock. Finally, Morgan Stanley assumed coverage on shares of Inspire Medical Systems in a research note on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 price target for the company. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Inspire Medical Systems presently has an average rating of "Moderate Buy" and an average target price of $271.29.

Inspire Medical Systems Price Performance

The company has a market capitalization of $7.38 billion, a P/E ratio of -331.18 and a beta of 1.37. The company has a fifty day moving average price of $201.23 and a 200 day moving average price of $182.94.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.04) by $0.53. Inspire Medical Systems had a negative return on equity of 3.93% and a negative net margin of 3.39%. The business had revenue of $192.51 million during the quarter, compared to analyst estimates of $186.75 million. During the same quarter in the previous year, the firm posted $0.10 EPS. The business's revenue for the quarter was up 39.6% compared to the same quarter last year. On average, equities research analysts predict that Inspire Medical Systems, Inc. will post -0.35 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Inspire Medical Systems news, CEO Timothy P. Herbert sold 40,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the completion of the transaction, the chief executive officer now owns 63,658 shares in the company, valued at approximately $13,055,619.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Inspire Medical Systems news, insider Randy Ban sold 12,230 shares of the business's stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $185.37, for a total transaction of $2,267,075.10. Following the completion of the transaction, the insider now owns 3,029 shares in the company, valued at approximately $561,485.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Timothy P. Herbert sold 40,000 shares of the firm's stock in a transaction on Monday, April 1st. The shares were sold at an average price of $205.09, for a total value of $8,203,600.00. Following the transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at $13,055,619.22. The disclosure for this sale can be found here. Insiders have sold a total of 61,371 shares of company stock valued at $12,213,828 in the last quarter. Company insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Inspire Medical Systems

Institutional investors and hedge funds have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Inspire Medical Systems in the 4th quarter worth approximately $27,000. Altshuler Shaham Ltd bought a new position in Inspire Medical Systems during the 4th quarter valued at $29,000. NBC Securities Inc. acquired a new position in shares of Inspire Medical Systems during the 3rd quarter valued at $34,000. Parkside Financial Bank & Trust bought a new stake in shares of Inspire Medical Systems in the 1st quarter worth $37,000. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Inspire Medical Systems by 7,850.0% in the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company's stock valued at $40,000 after buying an additional 157 shares during the period. 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.