Inspire Medical Systems (NYSE:INSP) Shares Down 8.3% – Time to Sell?

Inspire Medical Systems, Inc. (NYSE:INSP)’s share price traded down 8.3% during trading on Tuesday . The company traded as low as $54.75 and last traded at $52.2680. 125,386 shares were traded during mid-day trading, a decline of 90% from the average session volume of 1,197,562 shares. The stock had previously closed at $56.97.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on INSP shares. UBS Group set a $67.00 price objective on shares of Inspire Medical Systems in a research note on Friday, February 13th. Truist Financial dropped their price objective on shares of Inspire Medical Systems from $70.00 to $64.00 and set a “hold” rating on the stock in a research note on Wednesday, April 15th. Morgan Stanley set a $60.00 price objective on shares of Inspire Medical Systems in a research note on Wednesday, February 18th. Piper Sandler dropped their price objective on shares of Inspire Medical Systems from $165.00 to $85.00 and set an “overweight” rating on the stock in a research note on Thursday, February 12th. Finally, Mizuho dropped their price objective on shares of Inspire Medical Systems from $85.00 to $70.00 and set an “outperform” rating on the stock in a research note on Monday, April 13th. Five investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $101.41.

Inspire Medical Systems Stock Down 6.5%

The stock has a market cap of $1.53 billion, a PE ratio of 10.68, a P/E/G ratio of 2.97 and a beta of 0.86. The business’s fifty day moving average is $57.94 and its 200 day moving average is $80.92.

Inspire Medical Systems (NYSE:INSP) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.96. The firm had revenue of $269.08 million for the quarter, compared to analysts’ expectations of $264.02 million. Inspire Medical Systems had a net margin of 15.95% and a return on equity of 10.96%. The firm’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.15 EPS. As a group, analysts predict that Inspire Medical Systems, Inc. will post 1.82 EPS for the current year.

Institutional Investors Weigh In On Inspire Medical Systems

A number of large investors have recently added to or reduced their stakes in INSP. Wellington Management Group LLP acquired a new stake in Inspire Medical Systems in the 4th quarter valued at about $203,929,000. M&T Bank Corp acquired a new stake in Inspire Medical Systems in the 4th quarter valued at about $85,871,000. Deerfield Management Company L.P. lifted its holdings in Inspire Medical Systems by 648.4% in the 3rd quarter. Deerfield Management Company L.P. now owns 1,047,694 shares of the company’s stock valued at $77,739,000 after purchasing an additional 907,694 shares in the last quarter. Morgan Stanley lifted its holdings in Inspire Medical Systems by 179.5% in the 4th quarter. Morgan Stanley now owns 1,259,762 shares of the company’s stock valued at $116,188,000 after purchasing an additional 809,121 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. purchased a new position in Inspire Medical Systems in the 4th quarter valued at about $61,619,000. 94.91% of the stock is owned by institutional investors and hedge funds.

About Inspire Medical Systems

Inspire Medical Systems, Inc is a medical technology company specializing in implantable neurostimulation devices for the treatment of obstructive sleep apnea (OSA). The company’s flagship offering, the Inspire® system, delivers targeted stimulation of the hypoglossal nerve to maintain airway patency during sleep, providing an alternative therapy for patients who are intolerant of or inadequately managed by continuous positive airway pressure (CPAP) devices.

The Inspire system comprises an implantable pulse generator, a sensing lead that monitors breathing patterns, and a stimulation lead that activates the hypoglossal nerve.