Inspire Medical Systems (NYSE:INSP) Reaches New 52-Week Low on Analyst Downgrade

Shares of Inspire Medical Systems, Inc. (NYSE:INSP) hit a new 52-week low on Wednesday after Wells Fargo & Company lowered their price target on the stock from $174.00 to $101.00. Wells Fargo & Company currently has an equal weight rating on the stock. Inspire Medical Systems traded as low as $73.92 and last traded at $86.10, with a volume of 10967488 shares trading hands. The stock had previously closed at $129.95.

Other research analysts have also issued research reports about the company. Royal Bank Of Canada cut their price target on Inspire Medical Systems from $215.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday. Piper Sandler cut their price target on Inspire Medical Systems from $233.00 to $150.00 and set an “overweight” rating on the stock in a report on Tuesday. KeyCorp lowered Inspire Medical Systems from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Robert W. Baird raised their target price on Inspire Medical Systems from $230.00 to $236.00 and gave the company an “outperform” rating in a report on Tuesday, May 6th. Finally, Stifel Nicolaus dropped their target price on Inspire Medical Systems from $175.00 to $140.00 and set a “hold” rating on the stock in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $173.31.

Institutional Trading of Inspire Medical Systems

A number of large investors have recently bought and sold shares of the company. Parallel Advisors LLC boosted its stake in Inspire Medical Systems by 356.5% during the first quarter. Parallel Advisors LLC now owns 210 shares of the company’s stock valued at $33,000 after buying an additional 164 shares during the period. True Wealth Design LLC boosted its stake in Inspire Medical Systems by 39.0% during the fourth quarter. True Wealth Design LLC now owns 196 shares of the company’s stock valued at $36,000 after buying an additional 55 shares during the period. Quarry LP boosted its stake in Inspire Medical Systems by 2,127.3% during the first quarter. Quarry LP now owns 245 shares of the company’s stock valued at $39,000 after buying an additional 234 shares during the period. Banque Transatlantique SA bought a new stake in Inspire Medical Systems during the first quarter valued at $46,000. Finally, Quadrant Capital Group LLC boosted its stake in Inspire Medical Systems by 61.9% during the fourth quarter. Quadrant Capital Group LLC now owns 327 shares of the company’s stock valued at $61,000 after buying an additional 125 shares during the period. 94.91% of the stock is owned by hedge funds and other institutional investors.

Inspire Medical Systems Price Performance

The company has a market cap of $2.28 billion, a P/E ratio of 44.62, a price-to-earnings-growth ratio of 2.35 and a beta of 1.22. The company has a 50 day moving average of $127.94 and a 200-day moving average of $152.62.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings results on Monday, August 4th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.23. Inspire Medical Systems had a return on equity of 10.38% and a net margin of 6.17%. The firm had revenue of $217.09 million during the quarter, compared to analyst estimates of $214.50 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. The company’s revenue was up 10.8% compared to the same quarter last year. Research analysts anticipate that Inspire Medical Systems, Inc. will post 2.16 EPS for the current year.

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.