Inspire Medical Systems, Inc. (NYSE:INSP) Receives Consensus Rating of “Hold” from Analysts

Inspire Medical Systems, Inc. (NYSE:INSP) has received a consensus rating of “Hold” from the seventeen research firms that are presently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and eight have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $133.8750.

Several research analysts recently weighed in on INSP shares. Jefferies Financial Group restated a “hold” rating and issued a $85.00 price objective (down previously from $160.00) on shares of Inspire Medical Systems in a research report on Friday, October 24th. Evercore ISI lowered their price target on shares of Inspire Medical Systems from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Wall Street Zen lowered shares of Inspire Medical Systems from a “buy” rating to a “hold” rating in a report on Saturday, July 26th. Lake Street Capital set a $150.00 price objective on shares of Inspire Medical Systems and gave the company a “buy” rating in a research note on Tuesday, August 5th. Finally, UBS Group set a $89.00 target price on shares of Inspire Medical Systems and gave the company a “neutral” rating in a research report on Monday, September 22nd.

Inspire Medical Systems Stock Performance

Inspire Medical Systems stock opened at $86.47 on Monday. The business’s fifty day moving average is $79.52 and its two-hundred day moving average is $108.59. The firm has a market cap of $2.51 billion, a P/E ratio of 58.83, a P/E/G ratio of 9.36 and a beta of 1.14. Inspire Medical Systems has a 52 week low of $70.77 and a 52 week high of $216.01.

Inspire Medical Systems (NYSE:INSP) last released its quarterly earnings results on Monday, November 3rd. The company reported $0.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.53. The business had revenue of $224.50 million during the quarter, compared to analysts’ expectations of $220.39 million. Inspire Medical Systems had a return on equity of 9.41% and a net margin of 5.05%.The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. On average, equities research analysts predict that Inspire Medical Systems will post 2.16 earnings per share for the current year.

Inspire Medical Systems declared that its board has initiated a stock buyback program on Monday, August 11th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to purchase up to 8.6% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Inspire Medical Systems

In related news, CFO Richard Buchholz sold 11,000 shares of Inspire Medical Systems stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $93.39, for a total transaction of $1,027,290.00. Following the transaction, the chief financial officer owned 44,867 shares of the company’s stock, valued at $4,190,129.13. This trade represents a 19.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Inspire Medical Systems

Several hedge funds have recently bought and sold shares of INSP. Quarry LP boosted its position in shares of Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company’s stock worth $39,000 after purchasing an additional 234 shares in the last quarter. Banque Transatlantique SA bought a new position in Inspire Medical Systems during the first quarter worth about $46,000. Manning & Napier Advisors LLC bought a new position in Inspire Medical Systems during the third quarter worth about $32,000. Smartleaf Asset Management LLC grew its stake in Inspire Medical Systems by 27.2% in the first quarter. Smartleaf Asset Management LLC now owns 454 shares of the company’s stock valued at $71,000 after acquiring an additional 97 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Inspire Medical Systems by 38.7% in the second quarter. Daiwa Securities Group Inc. now owns 466 shares of the company’s stock worth $60,000 after acquiring an additional 130 shares in the last quarter. 94.91% of the stock is currently owned by institutional investors and hedge funds.

About Inspire Medical Systems

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.