Inspire Medical Systems (NYSE:INSP) Shares Down 3.6%

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s share price dropped 3.6% during mid-day trading on Monday . The stock traded as low as $220.62 and last traded at $220.90. Approximately 170,298 shares were traded during trading, a decline of 68% from the average daily volume of 531,891 shares. The stock had previously closed at $229.22.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stifel Nicolaus reissued a "hold" rating and issued a $210.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, January 2nd. Morgan Stanley started coverage on Inspire Medical Systems in a report on Tuesday, March 19th. They set an "overweight" rating and a $250.00 price objective on the stock. Jefferies Financial Group started coverage on Inspire Medical Systems in a report on Friday, January 19th. They issued a "buy" rating and a $245.00 target price for the company. Truist Financial reiterated a "buy" rating and issued a $280.00 target price on shares of Inspire Medical Systems in a research report on Wednesday, March 20th. Finally, Royal Bank of Canada began coverage on Inspire Medical Systems in a research note on Friday. They issued an "outperform" rating and a $285.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $272.20.

Inspire Medical Systems Trading Down 1.7 %

The stock's 50-day moving average price is $204.11 and its 200-day moving average price is $184.34. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of -304.35 and a beta of 1.37.

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

Insider Activity at Inspire Medical Systems

In other news, insider Randy Ban sold 3,060 shares of the firm's stock in a transaction that occurred on Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the completion of the sale, the insider now owns 3,029 shares of the company's stock, valued at approximately $551,308.29. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Randy Ban sold 3,060 shares of the stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $182.01, for a total transaction of $556,950.60. Following the transaction, the insider now owns 3,029 shares of the company's stock, valued at approximately $551,308.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jerry C. Griffin sold 554 shares of the business's stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $198.05, for a total value of $109,719.70. Following the completion of the sale, the director now directly owns 9,744 shares of the company's stock, valued at $1,929,799.20. The disclosure for this sale can be found here. Insiders have sold a total of 76,371 shares of company stock worth $15,664,278 in the last 90 days. Corporate insiders own 4.10% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. SG Americas Securities LLC purchased a new position in shares of Inspire Medical Systems during the third quarter valued at approximately $1,452,000. Avior Wealth Management LLC grew its stake in shares of Inspire Medical Systems by 12.1% in the 3rd quarter. Avior Wealth Management LLC now owns 2,677 shares of the company's stock worth $531,000 after acquiring an additional 288 shares in the last quarter. Rheos Capital Works Inc. raised its holdings in shares of Inspire Medical Systems by 215.5% in the third quarter. Rheos Capital Works Inc. now owns 63,100 shares of the company's stock valued at $12,522,000 after purchasing an additional 43,100 shares during the last quarter. Oak Thistle LLC purchased a new stake in shares of Inspire Medical Systems in the third quarter valued at about $934,000. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Inspire Medical Systems by 96.0% during the third quarter. Harbor Capital Advisors Inc. now owns 2,483 shares of the company's stock valued at $493,000 after purchasing an additional 1,216 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

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.