Inspire Medical Systems (NYSE:INSP) Shares Up 4.1%

Shares of Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report) traded up 4.1% during mid-day trading on Wednesday . The company traded as high as $248.20 and last traded at $248.00. 370,931 shares were traded during trading, a decline of 28% from the average session volume of 516,036 shares. The stock had previously closed at $238.27.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Inspire Medical Systems from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $245.00 to $187.00 in a research report on Wednesday, December 13th. Mizuho reissued a "buy" rating and set a $250.00 price objective on shares of Inspire Medical Systems in a research report on Wednesday, March 27th. Jefferies Financial Group assumed coverage on shares of Inspire Medical Systems in a research report on Friday, January 19th. They set a "buy" rating and a $245.00 price objective for the company. Stifel Nicolaus reissued a "hold" rating and set a $210.00 price objective on shares of Inspire Medical Systems in a research report on Tuesday, January 2nd. Finally, Morgan Stanley initiated coverage on shares of Inspire Medical Systems in a report on Tuesday, March 19th. They issued an "overweight" rating and a $250.00 target price for the company. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $271.29.

Inspire Medical Systems Stock Performance

The company has a market capitalization of $7.28 billion, a P/E ratio of -322.20 and a beta of 1.37. The firm's fifty day moving average is $200.01 and its 200 day moving average is $181.64.

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

Insiders Place Their Bets

In other Inspire Medical Systems news, insider Randy Ban sold 3,060 shares of the company's stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total value of $556,950.60. Following the transaction, the insider now directly owns 3,029 shares in the company, valued at approximately $551,308.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 transaction, the chief executive officer now directly owns 63,658 shares in the company, valued at approximately $13,055,619.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Randy Ban sold 3,060 shares of the company's stock in a transaction dated Tuesday, February 27th. The stock was sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the transaction, the insider now owns 3,029 shares in the company, valued at $551,308.29. The disclosure for this sale can be found here. Insiders have sold 61,371 shares of company stock worth $12,213,828 in the last three months. Corporate insiders own 4.10% of the company's stock.

Hedge Funds Weigh In On Inspire Medical Systems

Hedge funds and other institutional investors have recently modified their holdings of the business. McGlone Suttner Wealth Management Inc. bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at approximately $27,000. Altshuler Shaham Ltd bought a new position in shares of Inspire Medical Systems during the fourth quarter valued at approximately $29,000. NBC Securities Inc. bought a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $34,000. Parkside Financial Bank & Trust purchased a new stake in Inspire Medical Systems during the first quarter valued at approximately $37,000. Finally, Meeder Asset Management Inc. lifted its position in Inspire Medical Systems by 7,850.0% during the fourth quarter. Meeder Asset Management Inc. now owns 159 shares of the company's stock valued at $40,000 after acquiring an additional 157 shares during the last quarter. 94.91% of the stock is currently owned by institutional investors.

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.