Inspire Medical Systems (NYSE:INSP) Trading 5.9% Higher - Time to Buy?

Key Points

• Inspire Medical Systems shares rose 5.9% to about $77 on Friday, despite trading volume falling 60% below its average.
• Analysts remain cautious: the stock has an overall “Hold” rating and a consensus price target of $66.50, below its current trading level.
• The company exceeded quarterly EPS and revenue expectations, reporting $0.14 EPS and $200.58 million in revenue, although revenue declined 7.6% year over year.

Inspire Medical Systems, Inc. (NYSE:INSP - Get Free Report)'s stock price rose 5.9% on Friday . The company traded as high as $76.69 and last traded at $77.0140. 431,807 shares changed hands during trading, a decline of 60% from the average daily volume of 1,074,799 shares. The stock had previously closed at $72.74.

Analysts Set New Price Targets

A number of research firms have recently commented on INSP. Piper Sandler raised their price objective on shares of Inspire Medical Systems from $55.00 to $60.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Robert W. Baird raised their price target on Inspire Medical Systems from $54.00 to $59.00 and gave the company a "neutral" rating in a research report on Tuesday, August 4th. Evercore set a $54.00 target price on Inspire Medical Systems in a research report on Tuesday, August 4th. Royal Bank Of Canada reaffirmed a "sector perform" rating and issued a $60.00 price objective on shares of Inspire Medical Systems in a research note on Tuesday, August 4th. Finally, Summit Redstone set a $39.00 price target on Inspire Medical Systems in a research report on Friday, May 22nd. Two research analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating, eleven have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Inspire Medical Systems presently has an average rating of "Hold" and a consensus target price of $66.50.

Inspire Medical Systems Stock Performance

The company has a market capitalization of $2.25 billion, a P/E ratio of 16.88, a PEG ratio of 5.53 and a beta of 0.70. The stock has a fifty day moving average of $58.99 and a 200 day moving average of $52.93.

Inspire Medical Systems (NYSE:INSP - Get Free Report) last announced its quarterly earnings results on Monday, August 3rd. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.24) by $0.38. The business had revenue of $200.58 million for the quarter, compared to analysts' expectations of $194.72 million. Inspire Medical Systems had a net margin of 15.03% and a return on equity of 8.64%. The business's quarterly revenue was down 7.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.45 EPS. Inspire Medical Systems has set its FY 2026 guidance at 1.050-1.450 EPS. Research analysts anticipate that Inspire Medical Systems, Inc. will post 1.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jason Kelly sold 963 shares of the business's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $59.55, for a total transaction of $57,346.65. Following the transaction, the insider directly owned 18,985 shares in the company, valued at $1,130,556.75. The trade was a 4.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.20% of the company's stock.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently bought and sold shares of the stock. Alberta Investment Management Corp acquired a new stake in Inspire Medical Systems in the 2nd quarter valued at $5,483,000. Assenagon Asset Management S.A. lifted its holdings in Inspire Medical Systems by 66.2% in the second quarter. Assenagon Asset Management S.A. now owns 864,395 shares of the company's stock valued at $38,561,000 after acquiring an additional 344,221 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Inspire Medical Systems during the second quarter worth about $820,000. Bank of Nova Scotia grew its stake in shares of Inspire Medical Systems by 49.8% in the first quarter. Bank of Nova Scotia now owns 60,000 shares of the company's stock valued at $3,095,000 after buying an additional 19,958 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in Inspire Medical Systems during the 2nd quarter worth approximately $2,732,000. Hedge funds and other institutional investors own 94.91% of the company's stock.

About Inspire Medical Systems

Inspire Medical Systems, Inc develops and commercializes medical devices for treating moderate to severe obstructive sleep apnea (OSA), a condition in which the upper airway repeatedly becomes blocked during sleep. The company's primary product is Inspire therapy, an implantable system designed for patients who are unable to use or obtain consistent benefit from continuous positive airway pressure (CPAP) therapy.

The Inspire system uses a small implantable pulse generator, a breathing-sensing lead and a stimulation lead.

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